Iranian CG stress need for enchanced economic ties

Iranian Consul General Saeid Kharazi has said Pakistan and Iran should enhance their economic cooperation since he believes the current two-way trade volume has so far failed to tap the huge potentials between Pakistan and Iran.
He met Lahore Chamber of Commerce and Industry (LCCI) President Muhammad Ali Mian to say both the countries needed to have the highest level of bilateral trade, if both wanted to face the fast-emerging global challenges.
LCCI Senior Vice-President Mian Muzaffar Ali, Vice-President Shafqat Saeed Paracha, former president Syed Mohsin Raza Bukhari, former vice-president Aftab Ahmad Vohra, executive committee members Sohail Azhar, Hassan Amjad, Ghulam Sarwar Malik and Political Attaché of Iran Mohammad Ali Ramzani were also present.
Kharazi said both the countries should evolve a strategy to solve the problem of high tariffs to remove the bottlenecks and barriers in the way of bilateral trade. He said the LCCI should urge the government to organise a delegation for Iran to discuss the tariff-related issues with the Iranian government.
He said lack of information was also coming in the way of the bilateral trade and this goal could be achieved with a frequent exchange of trade delegation and joint trade exhibitions.
The Iranian Consul General said a branch of the Iran Central Bank would soon start operating in Pakistan, and lauded the LCCI initiative to establish the OIC secretariat at the LCCI and termed it a step in the right direction.
Mian said the bilateral trade had failed reach the peak and that this issue could be taken care of through active engagements of the chambers in the two countries, which could act as a resource base for information on trade and investment opportunities.
He said the current volume of bilateral trade failed to signify a healthy performance. In 2006-07, the total volume of the trade was 573.30 million dollars, out of which imports from Iran were worth 405.8 million dollars and Pakistan's export to Iran accounted for 167.5 million dollars, reflecting a considerable trade gap of 238.3 million dollars against Pakistan.
Mian said analysis of the bilateral trade showed that Pakistan was constantly in the negative balance. Cereals were the largest export item to Iran, which accounted for 44.89 percent of the total exports.