Pak-Iran FTA can increase trade volume to $5b

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Lahore

Chairman of Federation of Chambers of Commerce & Industry (FPCCI) Regional Standing Committee for Peace, Khawaja Khawar Rasheed Tuesday welcomed negotiations on Pak-Iran Free Trade Agreement and said that the agreement would lead both the countries to prosperity and development.
Talking to APP, he said that the recent volume of trade between the two countries was now only $27 million, while with this FTA, it could be increased to $5 billion during the next five years. Khawar said that according to the Preferential Trade Agreement, Pakistan had given Iran discount on 338 items and Iran gave the same facility for 309 items. However, under the Free Trade Agreement, both the countries would provide discount on the duties of more than 80% products.—APP