Efforts to initiate direct trade between Iran, Pakistan under way: envoy

The Iranian Ambassador to Pakistan Mehdi Honardoost on Friday said that Iran and Pakistan are enjoying cordial relations since long are extending cooperation each other on mutual interests. Addressing the members of Sialkot Chamber of Commerce and Industry (SCCI), he said that adequate efforts were made for removing the trade barriers which are hindering direct trade between Iran and Pakistan.
He pointed out that there is a wide scope of Pakistani products in Iranian markets particularly sports goods and surgical instruments. The initiating direct trade between the two friendly countries would not only supportive in enhancing the bilateral trade but also avert the chances of smuggling of different products he added.
In his address of welcome President Sialkot Chamber of Commerce and Industry (SCCI) Zahid Latif Malik said that both countries are eager to expand bilateral cooperation in diverse fields to benefit from each others expertise to make progress.
The SCCI President underscored the need of direct flights between Pakistan and Iran for saving timely delivery of goods and to control the cost because some countries including UAE were importing some products from Pakistan and re-exported to Iran. Access to Made in Pakistan products to Iran should be ensured as leather goods, surgical instruments, working gloves and sports apparel have huge demands in Iranian markets and Pakistan is known for having excellence in term of quality in the products he pointed out.
The SCCI President further stated that Pakistan and Iran have not been able to build their relationship on economic front as indicated by discouraging trade figures and circumstance there was need of increasing bilateral trade between the two countries. Total trade volume between the two countries during fiscal period of Iran 2016-17 was just US 1 billion dollar with balance of trade in favour of Iran as
Pakistan imported $789 million dollars worth of goods while exported $364 million dollar worth commodities he pointed out. The SCCI President was of the view that there is a lot of potential to increase the trade volume of trade as both sides have a wide unexplored trade potential adding that both countries could enjoy benefits of liberal trade by using rail, road and air links as well as removing trade barriers and improving banking channels.