Iran keen on stronger trade, economic ties with Pakistan

Islamabad, Oct 20, IRNA - The Consul General of Iran in Pakistan’s eastern city of Lahore has said that Iran is keen for stronger trade and economic ties with Pakistan and stressed that barter trade should be encouraged between the two countries.

Reza Nazeri was addressing the business community at the Lahore Chamber of Commerce and Industry (LCCI).

'Pakistan and Iran have common borders and cultural bonds and Iran has always tried to strengthen the bilateral relations with its neighboring countries and Pakistan is its first preference in this regard,” he said.

He extended full support of the Iranian consulate to prospective trade delegations, adding Iran would organize an exhibition of its products in Punjab.

“Oil, chemical, gas and other sectors should be focused for mutual trade,” he emphasized.

He added Pakistan has a distinguished status in milk production and experience of Iran in dairy sector could be beneficial for Pakistan.

Reza Nazeri went on to say that Iran has great potential in the field of construction and could cooperate with Pakistan in this field and added that both countries should join hands for promotion of tourism sector as Iran and Pakistan have immense potential in this sector.

Answering a query, Nazeri lamented that lack of banking channels between the two countries was quite troublesome. “Last year, Iran signed an agreement with the previous Pakistan government in this regard,” he recalled. “I will contact the current Punjab government to reactivate this agreement.”

Speaking on the occasion, LCCI President Almas Hyder pointed out that over the years, the chamber and Iran consulate had worked hand in hand. He appreciated efforts of the Iranian consul general in aiding the ease of doing business through frequent direct flights between the two countries.

“Both the countries have huge domestic markets and a unique geostrategic competitive advantage,” he emphasized. “In order to utilize each other’s strength, Pakistan and Iran will have to work jointly.”

Hyder recalled his visit to Iran at the head of a business delegation in 2016 and said a great potential existed for Pakistani products in Iran.

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