Iran products fair in January: Isfahan CCI leader for joint ventures with Pakistan

With a view to strengthening economic relations and promoting bilateral trade with Pakistan, Iran is holding first-ever six-day exhibition of Iranian products here from January 14, 2009.
Senior Vice-President of Isfahan Chamber of Commerce, Industries and Mines Jaffer Zarreh Binni, who was leading a six-member delegation of Iranian businessmen, revealed this while speaking at the Lahore Chamber of Commerce and Industry (LCCI) here on Friday. He stressed the need for joint ventures between Pakistani and Iranian businessmen, and said that both the countries should enhance their economic co-operation as the two-way trade had so far failed to tap the huge potential between two countries.
Both the countries needed to have the highest level of bilateral trade to cope with global challenges, he added. Jaffer Binni said that both the countries should evolve a strategy to remove the bottlenecks and barriers in the way of bilateral trade. He also invited the LCCI members to visit Isfahan to have first-hand knowledge of the available opportunities in textiles and handicrafts in Isfahan.
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 delegations and holding of joint trade exhibitions. Calling for a visa-free regime between Pakistan and Iran, LCCI Senior Vice-President Mian Muzaffar Ali said that both the sides should consider removing visa restrictions on the pattern of European Union.
He said the European Union removed the visa condition for each other's citizens for strengthening their respective economies. He said that due to lack of information about trade and business opportunities in each other's country, the bilateral trade could not touch the required levels. The LCCI Vice-President said that this issue could be taken care of through the active engagements of the chambers of the two countries, which could act as a resource base for information on trade and investment opportunities.
The present volume of bilateral trade did not signify a very healthy performance, and pointed out that during 2006-07, the total volume of trade between the two countries remained around 573.30 million dollars. He said the imports from Iran were worth 405.8 million dollars, while Pakistan's export to Iran accounted for 167.5 million dollars, reflecting a considerable trade gap of 238.3 million dollars against Pakistan.
Mian Muzaffar Ali said that analysis of 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, he said, adding that Pakistan was basically an agricultural country bestowed with variety of seasons and agro-based products, but due to lack of post-harvest technology, a lot of agriculture produce was wasted.
He also suggested that both the countries should conduct market research regarding the range of products and priority should be given to each other for import of goods rather than buying from distant countries. He said that the single country exhibitions on reciprocal basis, frequent visits of trade delegations and exchange of socio-cultural programmes could also play a vital role in enhancing the trade ties.
Former Presidents Syed Mohsin Raza Bukhari, Mian Tajjamal Hussain, Mian Misbah-ur-Rehman and Iranian Consul General in Lahore Saeid Kharazi also spoke on the occasion and gave suggestions for strengthening the economic and trade relations between the two countries.