Pakistan and Iran vow to achieve $1 billion mutual trade

Pakistan and Iran have vowed to achieve one billion dollar mutual trade target through reduction in tariff and customs facilitation at border check- posts. The target was announced by Prime Minister Jamali during his visit to Iran.
The resolve was expressed at the opening of third Iran solo trade exhibition at the Karachi Expo Centre on Thursday evening.
Inaugurating the exhibition, which is being participated by 40 manufacturing and industrial companies of Iran, EPB Chairman Tariq Ikram, said that Pakistan-Iran trade had touched the level of half a billion dollars during 1983-84 which gradually declined to dollars 63 million last year.
He said the Pakistan official trade with Afghanistan, which has far less trade capability than Iran, has increased from dollar 315 million to dollar 500 million. Why the same or even greater trade level can not be achieved between Pakistan and Iran, he asked.
He said Pakistan and Iran both were founder members of RCD and ECO and they have moved from a closed economy to an open economy. The two countries import goods worth billions of dollars yearly.
There is great opportunity for the two close neighbours to trade goods in a globalisation trade scenario.
Tariq said that though exhibitions played a vital role in promotion of trade yet the presence of an enabling environment was equally important.
Facilitation at border customs posts, reduced tariffs, permission to sell and purchase and freedom of transportation in the importing country is a must to achieve a trade level which could match the depth of historic, cultural and religious ties that exist between the two countries since centuries.
He said that by holding third trade exhibition in Karachi the Khorasan international exhibition company has thrown a challenge to the EPB which has not so far held a single country exhibition in Iran. He assured the audience that a Pakistani trade fair will be surely held in Iran this year.
The EPB chairman said that Habib Bank Limited had provided a credit to the Iranian banks to finance trade with Pakistan. The two governments have vowed to remove all trade barriers between the two countries.
Earlier Tariq Saeed, Chairmen of Pak-Iran Business Council said that a request for holding a trade fair in Tehran was pending for last two years because of restriction of spot sale at the fair.
The ceremony was also addressed by the deputy governor of Khorasan Zarea Sifaat, Iranian Ambassador Taheriyan, Consul General Moosa Hussaini, Arshad Alam, acting President FPCCI, and Siraj Kassam Teli, President Karachi Chamber of Commerce and Industry. Also present at the ceremony was Niamatullah Khan, City Nazim of Karachi.