Pakistan, Iran discuss boosting trade ties
Pakistan and Iran reiterated their desire to enhance bilateral trade which would greatly benefit the two neighboring countries.
This was discussed at a meeting between the visiting Managing Director of Iranian Foreign Investment Company (IFIC) Hassan Abqari and Pakistani Finance Minister Asad Umar, reported thenews.com.pk.
Umar said that Pakistan wants great economic engagement with Iran and assured that Pakistan’s government would support the efforts to facilitate bilateral trade.
He said there was tremendous potential of improving economic cooperation and both countries are required to capitalize on the existing opportunities in the area of bilateral trade.
The finance minister also apprised Abqari about the initiatives being taken by Pakistan for the benefit of the border community. “The government has directed the relevant quarters to take measures for facilitation of the border trade which will be beneficial for both sides,” he said in a separate statement.
The meeting agreed to address the obstacles being faced by the two countries in the area of trade.
Meanwhile, Iranian Ambassador to Islamabad Mehdi Honardoust said that his country’s gas exports to Pakistan will play a vital role in resurrecting the Pakistani economy by ensuring energy security and ending power outages in the South Asian country.
Speaking at a seminar on “Pak-iran Relations: Current scenario and future prospects” at the Islamabad Policy Institute (IPI) on Friday, Honardoust touched upon trade and economic cooperation between the two neighboring countries.
Emphasizing the importance of the completion of the Iranpakistan gas pipeline project, he said it could “provide the foundation for revival of Pakistan’s economy” by strengthening Pakistan’s energy security and ending power shortages. “We are waiting for Pakistan to move on the project,” he said.
He reiterated that Pakistan’s Gwadar and Iran’s Chabahar ports are not rival ports, and instead have a sister relationship.
The ambassador said a passenger and goods ferry service between Karachi and Chabahar is being negotiated. “The inauguration of ferry service and initiation of supply of electricity to Gwadar from Iran would be the best way to celebrate the sisterhood of the two ports,” he said.
Also on Friday, Iranian Deputy Foreign Minister Seyed Abbas Araqchi and his Pakistani counterpart Tehmina Janjua in a telephone conversation discussed mutual cooperation and regional developments.
During the phone talk, the Iranian and Pakistani diplomats underlined the need for bolstering and reinvigorating bilateral relations. The two sides also discussed the latest regional and international developments.
Tehran and Islamabad are determined to increase bilateral trade up to $5 billion.
In a relevant development in January, the Consul General of Iran in the southwestern Pakistani city Quetta Mohammad Rafiei, in a meeting with Chief Minister of the Pakistani Province of Baluchistan Jam Kamal Khan, said that the joint free economic zone will open soon.
In the meeting, both sides agreed that boosting trade between the two neighboring nations would directly benefit ordinary citizens.
Reports also suggested that increasing Pakistan and Iran trade by up to five billion dollars remained the focal point of the meeting.
Rafiei and Kamal stressed upping trade through Pakistaniran border points and economic zones to foster bilateral economic relations.
They also discussed the implementation of decisions taken by the Pakistan-iran Border Commission and Joint Border Trade Commission.
“Both nations have had social, political and cultural relations for decades; therefore, the Iranian government has always given importance to its relations with Pakistan,” said Rafiei, describing the Pakistani Province of Balochistan as an important bridge between the country and Iran.
During the meeting, the Iranian consul general invited Chief Minister Kamal to visit Iran’s Sistan-baluchestan Province.
“Today, relations between the two countries depend a lot upon trade and economic relations and can only be strengthened by boosting trade activities,” said Kamal, adding that unrest in the region had a negative impact on economic stability in Pakistan as well as Iran.
“The federal and provincial governments have been taking measures to enhance trade with Iran,” said Kamal, adding that Islamabad had been making effective strides in curbing drug smuggling and bringing peace to the border areas.
“The tax-free border markets in Pakistan and Iran will boost economic ties between the two countries,” said Kamal.