Govt urged to hold sin­gle-coun­try ex­hi­bi­tion in Iran

The Pak Banker - - NATIONAL -

United Busi­ness Group's (UBG) general sec­re­tary Zubair F. Tu­fail has urged Fed­eral Min­is­ter for Com­merce Khur­ram Dast­gir to take ap­pro­pri­ate mea­sures for or­gan­is­ing Pak­istan's sin­gle-coun­try ex­hi­bi­tion in Iran for the ex­pan­sion of trade be­tween the two coun­tries.

Zubair said the gov­ern­ment should an­nounce a long-term in­te­grated trade pol­icy aimed at en­hanc­ing bi­lat­eral trade be­tween Pak­istan and Iran. "We be­lieve that a pol­icy is re­quired to get max­i­mum ben­e­fits when sanc­tions against Iran have al­ready been lifted," he added. He said that the sin­gle-coun­try ex­hi­bi­tion will help Pak­istan in in­tro­duc­ing its prod­ucts in Iran's mar­ket and such a move will ul­ti­mately en­hance ex­ports.

He said that the lift­ing of sanc­tions on Iran has paved the way for the two sides to do busi­ness in an en­abling at­mos­phere. He said that Pak­istan and Iran have the po­ten­tial to meet each other's needs pro­vided the busi­ness­men have the ex­po­sure to the op­por­tu­ni­ties.

He said that busi­ness­men of Iran and Pak­istan would have to in­crease their in­ter­ac­tion with each other for shar­ing their ex­pe­ri­ences in the larger in­ter­est of the peo­ple of both the broth­erly na­tions.

"It should be a mat­ter of con­cern for both sides that in 2014, the vol­ume of bi­lat­eral trade has de­creased to $229 mil­lion which is a record low in this decade," he said, adding that the twoway trade be­tween the two coun­tries in 2009 and 2008 was as high as $1.21 bil­lion and $1.16 bil­lion, re­spec­tively."

He said that it was a mat­ter of con­cern trade bal­ance was in fa­vor of Iran. For ex­am­ple, Pak­istan ex­ported goods to Iran to the tune of $142 mil­lion in 2012 which dipped to $43 mil­lion in 2014. In con­trast to that Pak­istan's im­ports from Iran in 2012 were $120 mil­lion which inched up to $186 mil­lion in 2014, he added.

He stressed the need for find­ing ways to in­crease the vol­ume of Pak­istan's trade with Iran.

Mean­while, a spokesman for UBG, Gulzar Firoz, said that Iran re­quired our tex­tile prod­ucts, leather goods, en­gi­neer­ing items, agri­cul­tural prod­ucts, etc. He was of the view that Pak­istan could cap­ture Ira­nian mar­ket with some ef­forts and fetch be­tween $4 and $5 bil­lion through ex­ports in the next few years.

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