First Vice-President of Iran Parviz Davoodi called on President Asif Ali Zardari here on the sidelines of the Boao Forum for Asia on Saturday and discussed bilateral ties, regional situation and progress on the Iran-Pakistan-India gas pipeline project.
President Zardari, who is in the Hainan province to represent Pakistan at the Boao Forum for Asia 2009, said both the countries had been expanding and strengthening their relations in all fields and there was a need for translating the political ties into more meaningful economic co-operation.
The two leaders expressed satisfaction over the progress on the 7.4 billion-dollar worth 2,775-kilometre-long IPI gas pipeline project aimed at helping Pakistan meet its growing industrial and domestic needs. Under the agreement, Pakistan will import around 750 million cubic feet of gas per day from Iran to meet its growing energy needs. The Federal Cabinet officially approved the pricing formula at a recent meeting.
President Zardari said Iran could play an important role in the region and the two countries could join hands to fight the threat of terrorism and extremism with enhanced closer co-operation. The Iranian First Vice-President said the ties between the two countries were historic and had continued to face the test of time. He was of the view that increased co-operation between the private sectors would strengthen their economic ties and bring the two countries closer.