The Pakistan Industrial and Traders Associations Front (PIAF) has said the decision of Pakistan and Iran to address the issue of effective border management, through constituting operational committees, will control smuggling and terrorism, further enhancing bilateral trade between the two countries.
PIAF Chairman Irfan Iqbal Sheikh in a statement on Monday said the shortage of natural gas resources would also be fulfilled after the completion of Pak-Iran gas pipeline project and all those issues had become very vital and importance after the recent talks between Pakistani and Iranian officials. "Business community welcomes the recent development between these two neighbouring countries and Pak Iran gas project must be completed on preferential basis to fulfil the current & future need of the industry," he said.
The PIAF chairman said that being immediate neighbours and sharing strong cultural, religious and historical ties, Pakistan and Iran had no other option but to work hand in hand to overcome existing challenges at individual, regional as well as international level, exploiting huge potential of two-way trade. Despite many commonalities, the volume of bilateral trade was unsatisfactory but resumption of the banking channel would boost trade to $5 billion per annum, he added.
Irfan Iqbal said business could bring people of the two countries together and that Iran could become a major exporter of petroleum products to Pakistan, as the opening of the banking channel with Iran could boost bilateral trade by more than 100 percent within a couple of years. He said Pakistan could import quality pharmaceuticals and steel from Iran while export rice, meat, mutton, fruits and vegetables while chances of barter trade could also be explored.
PIAF urged the authorities to help turning the existent two months' arrangement of local Kinnow export to Iran a permanent feature. He said as per current scheme, import of Pakistani Kinnow continued till last April. He said the arrangement should be made a permanent feature and help enhance bilateral trade volume between the two countries. "Iran is a huge market with a consumption of 60,000 tons of Kinnow," he said, adding the governments of Iran and Pakistan could consider turning it into a regular feature.
He also called for improved air links as many Pakistani businessmen usually go to Iran through Dubai. "Pakistan and Iran must join hands to overcome mutual issues, securing peace and stability for the region and more importantly for the security and economic prosperity of the people of both countries," he added.
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