Govt urged to expedite FTA work with Iran

LAHORE: The Lahore Chamber of Commerce & Industry on Wednesday urged the Federal Government to expedite work on Free Trade Agreement with Iran as both the countries have huge potential to touch the staggering figure of $ 10 billion trade.

These views were expressed by the LCCI President Ijaz A. Mumtaz while talking to the Iranian Consul General Muhammad Hossein Bani Assadi here at the Lahore Chamber of Commerce & Industry. Former Presidents Bashir A. Baksh, Syed Mohsin Raza Bukhari, Mian Misbah-ur-Rehman, Mian Muzaffar Ali, former Vice President Aftab Ahmed Vohra and Executive Committee Members also spoke on the occasion.

Ijaz A. Mumtaz said that Pakistan and Iran not only have common border but also share a glorious history. Pakistan and Iran have close cultural affiliations and both have remained steady trading partners as well but in recent years, the momentum of trade has been seriously affected. Iranian Consul General Muhammad Hossein Bani Assadi said that Pakistan and Iran have the potential to cater to each other's needs provided the businessmen have the exposure to the available opportunities.

He said that Iran is ready to start barter trade with Pakistan to facilitate the businessmen and to jack-up the volume of two-way trade. he LCCI President Ijaz A. Mumtaz said that Iranian Foreign Minister Dr. Mohammad Javad Zarif has proved his credentials by successfully negotiating a difficult deal with USA regarding lifting of economic sanctions. It will open new avenues of trade for Iran in international market.