TEHRAN (Iran News) –President of Federation of Pakistan Chambers of Commerce & Industry(FPCCI) Irfan Iqbal Sheikh welcomed Iranian Ambassador to Pakistan at the Federation House and the President of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA); accompanied by chamber officials, diplomats and prominent business personalities.
He maintained that the real potential for bilateral trade between Pakistan & Iran is at least $5 billion in the near-term; and, this can be materialized by the next year itself.
Irfan Iqbal Sheikh explained that land-based & border trade accounts for 70 – 80 percent in the total trade of many geographically-contiguous and developed countries as it is cost-competitive in not only product pricing but also saves shipping costs; time-saving and creates healthy interdependencies among naturally complementary economies.
FPCCI Chief termed the formation of Pak-Iran Joint Business Council as a historic milestone and also apprised that another MoU has been signed between the counterpart chambers of two countries to constitute a high-powered dispute resolution committee to resolve trade disputes swiftly, fairly and unanimously.
Irfan Iqbal Sheikh emphasized that since Pakistan has become part of the TIR convention, we should be able to exponentially increase our exports to ECO member countries and Central Asia through the use of land-based transport routes and make full use of transit trade through Iran – which is close to $100 billion per year.
Seyed Mohammad Ali Hosseini, ambassador of Iran in Pakistan, expressed his satisfaction that a 27-member strong, high-profile trade delegation of Iran is in Pakistan; and, it will lead to better & improved people-to-people and business-to-business contacts. He also emphasized that tourism in general and business tourism is particular is welcome in Iran.
Gholam Hossein Shafei, President ICCIMA, said that both countries stand to benefit from enhanced bilateral trade volumes; as both countries have their own strengths in exports which have demand in other country.