Iran ready for barter trade with Pakistan

Lahore, Sep 19 (Online): Iranian Consul General Reza Nazeri on Friday stressed the need for strengthening trade ties between two neighboring countries, saying Iran is ready for barter trade and it will export petrochemical, steel and LPG to Pakistan while importing rice, meat and other agriculture products from Pakistan.

While addressing the second meeting of The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Pak-Iran Business Council held here at its regional office, the Iranian Consul General said that Iranian Consulate of Lahore is ready to facilitate Pakistan’s private sector to promote bilateral trade and investment.

We are trying the restore air link between Tehran and Lahore as early as possible which was suspended due to Covid-19, also affecting tourism sector of Iran, he added. He lamented that the volume of two-way trade between Pakistan and Iran is negligible, as the mutual trade of two countries does not match their respective potentials.

Reza Nazeri observed that Pakistan and Iran have the potential to cater to each other’s needs provided the businessmen have the exposure to the available opportunities. The business community in the two countries would have to increase interaction to share their experiences in the larger interests of the people of two brotherly nations, he added. He said the chambers of commerce in the two countries would have to focus on expansion of trade by holding single-country exhibitions and through trade delegations to each other’s country. Dissemination of sector-specific and trade-related information would go a long way in achieving the goal.

The Iranian Consul General said that agriculture, tourism and metal industry of Iran have opportunities of investment and Pakistani business community should come forward.

Earlier, addressing the meeting FPCCI President Mian Anjum Nisar welcomed the FPCCI’s Pak-Iran Business Council’s second meeting which was also graced by Iran Consul General Reza Nazeri and director general of ICCIA and ICCIMA Dr. Muhammad Reza Karbasi.

He said that both brotherly Islamic countries have been enjoying amicable business relations.

“I admit that the advantages like common religion and traditional values, geographical connectivity and interdependence of work of our economics have not been materialized in true perspective,” he added.

He said that the analysis of bilateral trade shows that the trade between the two countries is growing at a very slow pace, as current volume of bilateral trade is just 359 million dollars out of which Pakistan exports to Iran accounts for 36 million dollar against the imports of 323 million dollars.

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