Pak-Iran en­ter new era of bi­lat­eral trade, eco­nomic ties: IIAA chief

The Pak Banker - - NATIONAL -

Pres­i­dent In­dus­trial Area As­so­ci­a­tion (IIAA) Fari­doon Khat­tak on Sun­day said Pak­istan and Iran have em­barked on pro­mot­ing and boost­ing bi­lat­eral trade and eco­nomic re­la­tions. He said Pak­istan-Iran strate­gic co­op­er­a­tion will also give im­pe­tus to the econ­omy of en­tire re­gion.

He also wel­comed the sign­ing of MoU on Five-Year Strate­gic Trade Co­op­er­a­tion Plan be­tween Pak­istan and Iran, ac­cord­ing to a Press Re­lease. He said it would fa­cil­i­tate trade and peo­ple-topeo­ple con­tacts be­tween the broth­erly Is­lamic coun­tries.

He said the bi­lat­eral trade vol­ume up to five bil­lion dol­lars in next five years, would ul­ti­mately en­hance busi­ness-to­busi­ness con­tacts.

He stressed to give highest pri­or­ity to bi­lat­eral trade and said the pri­vate sec­tor of both the coun­tries should move for­ward to pro­mote busi­ness and trade re­la­tions.He said Pak­istan should also ar­range an ex­hi­bi­tion in Iran to pro­mote bi­lat­eral trade. He said Pak­istan's econ­omy had im­proved dur­ing the cur­rent gov­ern­ment' ten­ure and added Iran could also take ad­van­tage of this rapidly grow­ing econ­omy.

He said that the bi­lat­eral trade was con­fined to lim­ited items as Pak­istan mostly im­ported oil and gas from Iran and ex­ported rice and meat to Iran. He said Pak­istan could ex­port many prod­ucts to Iran in­clud­ing fruits, tex­tiles, sur­gi­cal items, sports goods, gems and jew­elry.

Both coun­tries may opt for joint in­vest­ments in agro-food pro­cess­ing and in­fra­struc­ture, par­tic­u­larly in the field of es­tab­lish­ing ef­fec­tive rail, air, road and sea links to im­prove trade re­la­tions, he added.He said trade through Gwadar Port and Chah­ba­har Port would be ben­e­fi­cial for both coun­tries and added ur­gent steps be taken to pro­mote this route. He hoped that vis­its of lead­er­ship of both coun­tries will bring about im­prove­ment in bi­lat­eral eco­nomic and trade re­la­tions.

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