Tehran Calls for Enhancing Barter Trade and Exports With Islamabad
IRAN NEWS ECONOMIC DESK
TEHRAN – Head of Iran’s Trade Promotion Organization Mr. Hamid Zadboum in meeting with Pakistan Minister Mr. Rahim Hayat Quershi called for expansion of bilateral trade and removing the exhisting hurdles in way of it.
In the meeting, Mr. Zadboum said that Iran and Pakistan are both member states of Economic Cooperation Organization (ECO) and D-8 Organization for Economic Cooperation. He went on to say that Pakistan is the second country that Iran is keen to have preferential trade with it, adding that both countries currently have preferential trade agreement and they are moving towards free trade agreement.
He emphasized that the fifth round of talks regarding this issue will soon be held and called for reinforcing banking and trade infrastructures for developing trade relations. Zadboum also urged Pakistan and Iranian officials for removing hurdles in way of expanding bilateral trade relations, adding that according to the conducted studies, Pakistan has the most capacity among Iran’s 15 neighboring countries and it is considered as the first country for expansion of trade.
Zadboum also pointed to the reinforcement of joint border committee and to the significance of barter exports, and called for easing it by Pakistan.
He further said that the ground for barter exchanges is under supervision of central banks, stating that it is recommended that barter exports are bolstered and eased by Pakistan’s Central Bank and a workgroup is formed in the national level by both sides.
He then pointed to some fields for cooperation by both countries, reiterating that these fields should be discussed in the future talks.
Zadboum also added that Iran is currently exporting some 100 megawatts of electricity to Pakistan and it is ready to increase it to over 500 megawatts. He then commemorated Muhammad Ali Jinnah, the founder of Pakistan, and pointed to the cultural and language commonalities between Iran and Pakistan and called it a strong point for expansion of political, economic and trade relations.
Meanwhile Pakistan Ambassador Mr. Quereshi, for his part, said that expansion of level of trade relation needs the joint chamber of commerce of both countries to become more active especially in the border provinces, adding that hinders in way of boosting economic and trade relation between both countries are not big or unsolvable problems.
He also announced that Iran’s Roads and Urban Development Minister will meets Pakistan Commerce minister in the near future.