Iran to enhance trade volume with Pakistan

Lahore: The Commerce Organisation, Sistan of the Iranian province Balochistan, has identified a list of 300 tradable items between Pakistan and Iran to enhance trade volume between the two countries by one billion dollars. Commerce Organisation President Iraj Hassan Poor stated this during a meeting with the office-bearers of the Lahore Chamber of Commerce and Industry (LCCI.

While stressing the need for expediting work on the list of tradable items, he said Iran was in a position to transit Pakistani goods to all the neighbouring countries and the Pakistani businessmen should avail the opportunity for the mutual benefit of the people in both the brotherly Islamic countries.

Iraj Hassan said Pakistan and Iran need to have the highest level of bilateral business if both the nations want to face the fast emerging global challenges and it is high time that Pakistani business community should join hands with their Iranian counterparts as this would help both the countries get a respectable place in the global market which is highly competitive at the moment.

He said the lack of information was also coming in the way of bilateral trade between Pakistan and Iran and this goal could be achieved with frequent exchange of trade delegation and holding of joint trade exhibitions. He urged the Lahore Chamber of Commerce and Industry (LCCI) to arrange a trade delegation to Iran so that Pakistani businessmen could have an assessment of the business opportunities existing in Iran.

Speaking at a meeting, Zahidan Chamber of Commerce and Industry and Mines (ZCCI&M) President Abdul Hakim Reigi said that Pakistan could import homeopathic medicines, dates and a number of other products from Iran.

Regarding quality of products, he said that Iran wanted to import high quality food products from Pakistan. About joint venture, he said that Pakistan could establish units for producing value-added dates in collaboration with Iran for re-exporting to other countries.

He urged the government of Pakistan to allow some concession on export of rice, potato and kinno from Pakistan to Iran. He invited the LCCI to hold single country exhibition of Pak products in Zahidan.

Speaking on the occasion, LCCI Vice-President Shafqat Saeed Piracha said that at the moment the trade between the two countries was confined to a limited number of products. Pakistan's exports to Iran mainly comprise rice, wheat, cotton, leather products, textile, yarn, etc and imports from Iran consist of petroleum and petroleum products, spices, tea, pistachio nuts, woolen carpets, fruits and vegetables.

He said that food and fruit processing, dairy and poultry products, petroleum refinery, oil and gas exploration, infrastructure, transport vehicles, electric and non-electric appliances, cement, chemicals, information technology are possible areas for joint ventures between the two countries.

Lack of timely information on trade and business opportunities in both the countries is one of the major bottlenecks in trade enhancement and the frequent which can be removed through frequent and active engagements between the two-side chambers, he said, adding the chambers of two countries can be a resource-base for providing information on trade and investment opportunities. Shafqat Saeed Piracha, former LCCI president Mohsin Raza Bukhari, former LCCI vice-president Shahzad Ali Malik were also present on the occasion.