'Pakistan, Iran need to explore trade opportunities'

Pakistan and Iran have the potential to cater to each other's needs if the business communities in the two countries have the exposure to available opportunities, Iranian Consul-General Muhammad Hussain Bani Assadi said on Friday. The Iranian diplomat was speaking at a function in the Lahore Chamber of Commerce and Industry.
Stressing the need for increasing business interactions between the two countries, he said that the volume of mutual trade between Pakistan and Iran did not match the level of their relations. He said that trade bodies of both the countries would have to focus on expanding trade by holding single country exhibitions or trade delegations. Highlighting the need for disseminating trade-related information, he said that both countries should also share their experiences in the field of science and technology. He said that Pakistani business community should focus on exploring investment opportunities available in Iran's agriculture and tourism sectors and metal industry.
LCCI's President Irfan Qaiser Sheikh reassured the Iranian diplomat that the Lahore Chamber would continue to play its role for increasing bilateral trade and expanding economic relations, adding that a huge potential still remained untapped in the two countries.
He said that the bilateral trade would get a boost after the completion of the Iran-Pakistan gas pipeline project. He said that Pakistan and Iran needed to conduct market research to bolster bilateral trade ties, adding that priority should be given on importing goods from each, instead of buying from distant countries.
There was a lot of scope for collaboration in SMEs and major projects such as onshore and offshore oil and gas exploration activities, hydroelectric and coal-based energy projects. There was also scope for co-operation in setting up industries in paper and board, sugar, cement, chemicals, transport and communication, construction of roads in Pakistan, scientific and educational co-operation, handicrafts, artificial jewellery, carpets and fancy furniture.