The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Friday called for early signing of Pakistan-Iran free trade agreement (FTA) to boost trade between the two countries. At a meeting with the delegation of Mashhad Chamber of Commerce, Industry and Mines in Federation House, FPCCI Vice-President Arshad Alam called for close interaction between the businessmen of the two brotherly Muslim countries, aimed at boosting their trade and economic co-operation.
He said that although the volume of the trade between the two countries had improved from 155 million dollars in 1999-00 to over 300 million dollars, there was still a lot of potential, which had not been tapped. He said Pakistan's exports to Iran contributed only 0.32 percent whereas Pakistan's share in Iranian exports was 1.52 percent.
Iranian trade delegation leader I. Sekhavati said there was need to investigate and analyse needs and requirements of the two countries and if there was close interaction between their businessmen and the two governments, roughly 60 percent of their requirements could be met through bilateral trade.
Iranian Consul General in Karachi Syed Musa Husseni, who was accompanied the delegation, said the present delegation was fifth trade delegation from Iran that year, which reflected the new momentum in trade relations between the two countries. He said that Iran would hold solo exhibition of its products in March 2005 in Karachi.
FPCCI Managing Committee member Amanullah Farooq called upon the government of Iran to give five-year multiple visa to the Pakistani businessmen on the recommendation of the FPCCI.
He suggested to the Iranian businessmen to participate in the Expo-2005 to be held in February 2005 in Karachi, which would be a good occasion to introduce the Iranian products and to assess import requirements of Pakistan.
Pakistan-Iran Business Council of FPCCI Director Zubair Tufail informed the meeting that a delegation of Pakistani businessmen was expected to visit Iran in March 2005 for the joint meeting of Pakistan-Iran Business Council.
He suggested that during the visit of Pakistan Prime Minister to Iran next month, the date for the signing and implementation of free trade agreement between the two countries should be announced.
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