President of the Federation of Pakistan Chambers of Commerce and Industry has appreciated Prime Minister Imran Khan’s recent visit to Iran and stated that it will open the opportunities for enhancement of bilateral trade and economic relations between both nations, local media reported.
Daroo Khan Achakzai stated that presently Pakistan and Iran enjoy Preferential Trade Agreement (PTA); wherein the concessions on 18 percent of items are given.
Achakzai urged on the promotion of barter trade between both nations as Pakistan has huge potential in exporting of agriculture products and edible fruit and vegetables while in return Iran has potential to export of crude oil and petroleum products.
He stated that Iran plays a leading role in international organisations where Pakistan is also an active member like OIC, D-8, ECO, G-24 and G-77.
The President o FPCCI further stated that the stronger trade and business ties with Iran will not only help Pakistan’s economic situation, but will also lead to greater stability and economic prosperity in the region.
Moreover, both countries should promote trade through land borders by opening new trade routes like Gabd-Reemdan and Mand-Pashin; which will help in improving the economy of Balochistan.
While talking about the Pakistan-Iran gas pipeline project, he emphasized the need of early completion of gas pipeline from Pakistan. He also praised Iran for starting exports of electricity to Balochistan which will help in resolving the energy crisis.
He eulogized the development of Chabahar port as it would serve as a sister port of Gwadar for developing connectivity by establishing the North–South and East–West corridors.
FPCCI president also suggested opening of financial channels between two nations as transactions through third country increase the cost of doing business and affect competitiveness of Pakistan and Iran.
He also stressed on holding of commercial activities between the private sector for business to business relations and enhancement of trade.
Source: IRNA - Date: (24 April 2019)