Abdul Majid Haji Muhammad, President, Karachi Chamber of Commerce and Industry (KCCI), sees bilateral trade ties between Iran and Pakistan to further strengthen. He stressed the need of establishing Iranian bank branches in Pakistan and Pakistani Bank branches in Iran .
He ensured Chamber's entire support in this context and informed that KCCI is already in touch with Governor State Bank of Pakistan in this regard. While expressing his views in a meeting held with Ahmad Fasihi, Iran 's Commercial Counsellor in Pakistan , Abdul Majid underscored the great existing trade potential between two Muslim neighbouring countries having vast common borders.
Abdul Majid was of the view that the status of $7.5 billion Iran-Pakistan-India (IPI) Gas Pipeline can further enhance the relationship. Abdul Majid said that Pakistan and Iran signed a Preferential Trade Agreement (PTA) in March 2004 in which both countries agreed to reduce customs duty on various items. Developments for FTA will encourage the business community of both sides to cement bilateral trades, he added.
Abdul Majid said that Pakistan is in a dire need for energy and can get low-cost energy solutions from Iran . Moreover, for a better future of the country and increase the agricultural produces Pakistan is in dire needs of constructing dam. Iran had only 30 dams before revolution and now there exist more than 350 dams so Pakistan must get benefit of expertise from Iran for its needed solutions.
Ahmad Fasihi, Iran 's Commercial Counsellor in Pakistan stressed need of establishing Banking Channels between two Muslim countries. Ahmad Fasihi als said that in current year's programme, besides the exchange of several trade delegations from both sides, holding of the Pakistan's first solo exhibition in Iran as well as Iran's solo exhibition in Pakistan are being pursued that Insha Allah will be done in the next few months.-PR
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