KARACHI, NOV 24 /DNA/ – Irfan Iqbal Sheikh, President FPCCI, has apprised that, in a high-profile visit to FPCCI Head Office, Reza Amiri Moghadam, Ambassador of Iran in Pakistan, has proposed to set up border markets with Pakistan to enhance trade between the two countries.
Mr. Sheikh added that enhancing trade with Iran can help resolve Pakistan’s chronic trade deficit issues as Iran is our next door neighbor and exporting to Iran will be price-competitive due to negligible shipping & logistics costs due to land-based route.
Mr. Irfan Iqbal Sheikh reiterated his stance that the lack of banking channels between the two countries is the top most impediment in increasing Pakistani exports to Iran – and, an effective and functional currency swap mechanism can help resolve the issue.
Mr. Shaukat Omerson, VP FPCCI, highlighted that there are a number of products and services that Pakistan can export to Iran in large numbers; and, rice, fruits, vegetables, value-added textiles, sports goods, surgical instruments, pharmaceuticals and IT services of Pakistan have great potential in Iran.
Mr. Shaukat Omerson also stressed that bilateral trade of $2.4 billion, as per latest statistics, is way below the potential for the combined population of well over 300 million for the two countries. He also called upon capitalizing on land-based transportation opportunities unleashed by Pakistan’s inclusion into TIR convention. We can also utilize land-based routes through transit trade from to Central Asian Countries, Turkiye and beyond, he added.
H. E. Mr. Reza Amiri Moghadam, Ambassador of Iran in Pakistan, proposed that Iran is one of the world’s top producers of petrochemical and energy sources – and, Pakistan is mostly dependent on imported oil and other energy sources. This phenomenon makes Iran a very important country for Pakistan to bridge its energy deficiencies through reliable and inexpensive supplies from Iran.
Mr. Moghadam also highlighted that Pakistani rice is popular in Iran due to its good taste and Pakistani textiles are world-famous. The two countries also enjoy cultural and religious bonds. He expressed his desire to enhance people-to-people; business-to-business and chamber-to-chamber contacts with Pakistan. We need to increase business tourism between the two countries and Iranian embassy is all-willing to facilitate the Pakistani business community in visas and participation into trade exhibitions and fairs in Iran.