News ID: 198227
Published: 0207 GMT August 08, 2017

Iran-Pakistan $5b trade target achievable: Pakistani trade activist

Iran-Pakistan $5b trade target achievable: Pakistani trade activist

Vice President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) strongly believes that target of $5 billion trade between Iran and Pakistan is achievable.

Mian Shaukat Masud told IRNA that trade activities this year witnessed a boost and both countries would be able to achieve the set target of $5 billion.

"I am very hopeful that relations between the two countries will improve in the future," he said.

He added that Pakistan-Iran business council had met for the fourth time in Islamabad to discuss ways to promote trade ties. "It is heartening to see that Iran's Ambassador to Pakistan Mehdi Honardoust also attended the meeting," he said.

"We feel that such meetings can always help to promote business and we have chalked out plan to have next meeting in Iran. FPCCI is planning to take a trade delegation to Iran very soon," he said.

The businessman added, "It is very important to develop strong relations between the two countries and we feel the time has come for that.

"The China-Pakistan Economic Corridor (CPEC) projects are coming and with road coming from China to Gwadar port of Pakistan can help promote trade relations between Gwadar and Chabahar, so these two ports can become twin sister ports and lot of business activity can be generated between the two countries and that is how we can develop more relations with Iran."

Shaukat Masud contended that resumption of banking channel is very important for enhancing trade ties.

"We need to establish one bank from Iran in Pakistan and one bank from Pakistan in Iran so that business could be developed," he said.

He added, "Iran is our neighbor and we can export so many things including agricultural products and import many products produced by Iran.

"I am very much hopeful that trade ties between the two countries would be further enhanced."

Iran and Pakistan have agreed to increase annual trade to $5 billion by 2021. In a major development after the JCPOA, the central banks of the two countries have signed an agreement to resume ties through banking channel.

Last year, trade between Iran and Pakistan increased to more than $1 billion which shows a growing trend after the JCPOA.

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