Pakistan and Iran Agree to Collaborate Towards $10 Billion Trade Goal

Pakistan and Iran Agree to Collaborate Towards $10 Billion Trade Goal

ISlamabad: A pivotal meeting was held at the Lahore office of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to enhance trade relations between Pakistan and Iran. 

The meeting was attended by Iranian Ambassador to Pakistan Dr. Reza Amiri Mukadam, Pakistani Ambassador to Iran Muhammad Mudasser Tippu, Iranian Consul General in Lahore Mehran Movahhedfar, and other notable figures.

Regional Chairman and Vice President of FPCCI, Zaki Aijaz, began the meeting by expressing condolences over the passing of Iranian President Ibrahim Raisi. He emphasized the need for collaboration to achieve the $10 billion trade target, suggesting the formation of a trade group of traders from both countries to identify potential trade areas and make joint recommendations.

The discussion also highlighted the importance of operationalizing the barter trade mechanism and promoting trade relations through exchanging trade and cultural delegations, establishing direct flights, organizing business-to-business meetings, promoting cultural and student exchange programs, and monitoring the performance of trade groups.

Pakistani Ambassador to Iran, Muhammad Mudasser Tippu, announced that the border between the two countries would remain open 24 hours to help reach the $10 billion trade goal. He mentioned ongoing negotiations for a free trade agreement (FTA) and urged the Ministry of Commerce and FBR to be involved. He also requested the Iranian ambassador to lower trade duties on various items.

Iranian Ambassador to Pakistan, Dr. Reza Amiri Mukadam, highlighted the vast opportunities for bilateral trade. He noted that during the recent visit of the Iranian President and his meeting with Prime Minister Shehbaz Sharif, it was decided to send a comprehensive trade delegation to Iran. He assured that the Iranian embassy would fully cooperate to resolve currency issues due to inadequate trade systems and banking channels. He also mentioned that while Iran has allowed Pakistani trucks to move freely, Pakistan has yet to grant the same permission to Iranian trucks. Additionally, he suggested visiting the port of Chabahar for investment opportunities.