News ID: 200440
Published: 0259 GMT September 12, 2017

Iran calls for €5b trade with Pakistan

Iran calls for €5b trade with Pakistan

Iran's Vice President for Economic Affairs Mohammad Nahavandian called for boosting trade transactions with Pakistan to €5 billion.

In a meeting with Pakistani Foreign Minister Khawaja Muhammad Asif in Tehran, Nahavandian called for expediting trade negotiations between the two countries and removing the obstacles to banking transactions, Mehr News Agency reported.

He added, "Although the level of trade cooperation between the two countries shows a 35-percent increase, we need to boost economic transactions in the post-sanctions era."

The implementation of a two-way credit line of €500 million between the two countries' central banks and the opening of bank branches should materialize in the next three months, he underlined.

Nahavandian added that the establishment of passenger and cargo shipping lines between Iran's Chabahar and Pakistan's Karachi, as well as a direct flights between the two countries could lay the groundwork for long-term cooperation.

The Pakistani foreign minister called for expediting preferential and free trade talks, noting gas and electricity cooperation between Iran and Pakistan would benefit the two sides as well as the region.

Iran-Pakistan-China trilateral cooperation on investment in transport and energy will speed up, he promised.

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