Pak­istan-Iran Cham­ber of Com­merce to be es­tab­lished

The Pak Banker - - NATIONAL -

The Fed­er­a­tion of Pak­istan Cham­bers of Com­merce and In­dus­try (FPCCI) on Thurs­day said busi­ness com­mu­nity is pin­ning high hopes on the two-day visit of Ira­nian Pres­i­dent Has­san Rouhani to Pak­istan.

The visit will be be­gin­ning of a new era by strength­en­ing bi­lat­eral re­la­tions, par­tic­u­larly af­ter lift­ing of the sanc­tions on Iran that has opened new av­enues for en­hanc­ing eco­nomic in­ter­ac­tion, it said. Bi­lat­eral trade be­tween two broth­erly coun­tries is far from sat- is­fac­tory which can im­prove as a re­sult of the high pro­file visit, said Ab­dul Rauf Alam, Pres­i­dent FPCCI.

Mr. Rouhani's is ex­pected to pro­mote ex­ports of elec­tric­ity, nat­u­ral gas, crude oil and other petroleum prod­ucts and dis­cuss gas pipeline to con­nect Iran and Pak­istan, he added.

He said that con­struc­tion on the 1,800-kilo­me­tre pipeline on the Ira­nian side is largely com­pleted while work on the Pak­istan side hasn't started due to sanc­tions de­spite in­au­gu­ra­tion in in March 2013 which is un­for­tu­nate.

Rauf Alam said that Pak-Iran trade which was once over a bil­lion dol­lar has re­duced to al­most none but af­ter the visit and sub­se­quent agree­ments it can go up to one bil­lion dol­lars within one year. Strength­en­ing eco­nomic links with Iran is in the in­ter­est of Pak­istan and whole re­gions, he said, adding that it would pave way for co­op­er­a­tion on re­gional and in­ter­na­tional is­sues.

The FPCCI pres­i­dent said that we highly value ties with Iran which is a close friend and a neigh­bour and look­ing for­ward for re­sump­tion of com­mer­cial and eco­nomic ties be­tween our coun­tries. Re­vival of econ­omy and over­com­ing the en­ergy short­fall are high-pri­or­ity ar­eas which can be tack­led with the help of Tehran for achiev­ing eco­nomic sta­bil­ity and devel­op­ment which is linked with sta­bil­ity in the re­gion, he ob­served. He in­formed that the guest will ad­dress the busi­ness com­mu­nity af­ter ar­rival, a meet­ing of Pak-Iran Busi­ness fo­rum to be at­tended by top of­fi­cials from both coun­tries will be held, Apex cham­bers of com­merce of both coun­tries will sign MOU to es­tab­lish Pak­istan-Iran cham­ber of Com­merce and busi­ness-to-busi­ness meet­ings will be held.

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