Coordinator to Federal Tax Ombudsman Meher Kashif Younis Sunday said the visit of the Iranian foreign minister to Pakistan has the potential to promote regional economic integration and bolster trade relations between the two countries by exploring opportunities for further economic cooperation.
Talking to a delegation of industrialists led by Shahid Nazir here today he said such high-level engagements can lead to trade agreements and initiatives to strengthen bilateral trade and economic ties.
He said barter trade is need of the hour in prevailing global scenario which he added must be fully exploited to highest level.
Pakistan and Iran had a long history of trade relations and have engaged in bilateral trade, covering various sectors like energy, agriculture, and manufacturing.
He said both countries share a border, which facilitates cross-border trade and economic cooperation.
He said “currently Iran is exporting 144MW of electricity to Pakistan, and this figure is expected to double upon the completion of power projects in Pakistan.
Iran has the potential to export 500MW of electricity to Pakistan.He said latest figures show annual trade between Iran and Pakistan reached nearly $2.4 billion in year to March of which some 1.8 billion were Iran’s exports to Pakistan.
