Iran-Pakistan trade volume can be increased from $2.7 billion to $10 billion, says Reza Amiri Moqadam

 Saturday 21 December 2024

Islamabad News International / Pakistan Point News - 21st December, 2024) The Islamabad Chamber of Commerce and Industry (ICCI) and the Embassy of Iran have decided to cooperate for business and economic development by removing trade barriers for the mutual benefit of both countries. According to a press release issued here on Saturday, this important decision was taken during the goodwill visit of Iranian Ambassador Reza Amiri Moqadam to the Islamabad Chamber of Commerce and Industry (ICCI).

On this occasion, the parties agreed to further promote economic, trade and cultural relations between Pakistan and Iran. To achieve this goal, they formed a four-member committee to further deliberate and coordinate on necessary steps.

ICCI President Nasser Mansoor Qureshi and Iranian Ambassador Reza Amiri Moqadam held detailed discussions on various matters of mutual interest to strengthen bilateral cooperation and collaboration.

Reza Amiri Moqadam expressed happiness over the progress made in Pakistan-Iran relations in recent years but highlighted that there is still much scope for deeper cooperation. He stressed the need to increase the trade volume between the two countries from the current $2.7 billion to $10 billion. The Iranian ambassador proposed to strengthen trade relations with Pakistan.

Iran proposed to transform the border into a commercial gateway. He also suggested expanding border markets, opening new crossing points and establishing customs facilitation desks to facilitate trade. On this occasion, the Iranian ambassador also invited ICCI President Nasser Mansoor Qureshi to visit Tehran on behalf of the President of Tehran Chamber of Commerce and Industry.

In response, the ICCI President warmly welcomed the distinguished guest and highlighted that Pakistan is following a coherent roadmap to increase foreign investment and is providing attractive opportunities for international investors. He stressed that cooperation between Pakistan and Iran should be expanded in all sectors so that both countries can benefit from each other’s experiences and capabilities.

Nasser Mansoor Qureshi pointed out that international pressures, regional instability, and security challenges are obstacles to business interactions between the two countries. However, he expressed confidence that the determined business communities of both countries are capable of overcoming these obstacles. He suggested that Iran could export its oil via Pakistan and the two countries could also cooperate on pharmaceuticals and agricultural commodities through joint ventures that would benefit both economies.

Furthermore, President Qureshi suggested that regular exchanges of trade and cultural delegations as well as business-to-business meetings would bring the business communities of both countries closer together. He also invited Iranian businessmen to attend a trade exhibition that ICCI plans to organize in the middle of next year, which will provide an opportunity to showcase products and explore new business opportunities.

Senior Vice President Abdul Rehman Siddiqui stressed the need to formalize informal trade through joint efforts and reiterated the firm commitment of both business communities to work together for mutual benefit. The Iranian delegation included Zahra and Shahbaz and Commercial Counselors. ICCI Vice President Nasir Mahmood Chaudhry, Qazi Muhammad Ilyas, Waseem Chaudhry, Naeem Siddiqui and ICCI Secretary General Ghulam Murtaza were also present.