PAAPAM delegation visits Iran: Plan to exchange technologies, barter parts and raw material agreed

LAHORE: The Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) and the Iranian Auto Parts Manufacturers Association (IAPMA) have announced the plan to exchange technologies and barter the parts and raw materials, exploiting the immense scope for the manufacturing and supplying auto parts and accessories between Iran and Pakistan.

The delegation of auto parts makers visited Iran, under the banners of the Pakistan Association of Automotive Parts and Accessories Manufacturers and Pak Iran Business Council of FPCC, at the invitation of the Iranian government to attend the Auto Parts exhibition, held in Tehran, besides meeting high-ups of Iran Chambers and the Iranian Auto Parts Manufacturers Association (IAPMA) to pave the pathway of trade venues.

The Iranian officials and entrepreneurs reciprocated their big cooperation between two great friends tied by religion, neighborhood, culture, and friendship. Pakistan embassy and its commercial section dedicatedly remained active during the seven days long hectic trip of the leading parts producers. After affirming the barter trade agreement, positive energy is seen on both sides of the Pak-Iran border.

Referring to the great capabilities and long history of the relationship between Iran and Pakistan, Nilofar Esadi, Deputy Head of the International Affairs of the Iran Chamber, said the two countries could fill the gaps in the auto industry in their countries by cooperating in this field. Pursuing the memorandum of understanding signed between the presidents of the Iran Chamber and the Federation of Pakistan Chambers of Commerce for establishing the Iran-Pakistan Joint Business Council, she added that we planned to cooperate closely to develop trade with Pakistan.

Muhammad Nasim, Head of the delegation, and Najam Ul Hassan Jawa, Co-head of the delegation, said the Pakistan auto parts sector was producing the top quality parts since they had to aftermarket the world’s best Japanese standards. They had localized tractors and motorcycles, more than 95%, followed by cars, 60%. Nasim further stated that Pakistan was producing the cheapest tractor in the world. Pakistan is strategically located in an ideal position due to CPEC to connect the Iranian markets to the world. Pakistan was enjoying preferential or zero duty to all major markets, which could give respite to Iranian auto parts makers in the form of export excess to the world they were clipped due to sanctions.

The delegation expressed identical thoughts at the reception honored by the (IAPMA). The association’s president greeted the board and said they had many common things to cooperate. Muhammad Nasim underlined the close interaction between the two auto parts-producing countries to remove existing barriers and misperceptions. Najam Ul Hassan Jawa requested both governments to ease the modus operandi for making barter trade. The delegation also visited the Pakistan embassy, and HE Rahim Hayyat Qureshi, Ambassador to Iran, and Dr Amir Husain, Commercial Counselor, briefed the delegations on how to work with the emerging Iranian market under the new regime. The delegation thanked the embassy for its exceptional support to them and for connecting the chain.

Copyright Business Recorder, 2023