LAHORE: Acting Consul General of Iran Ali Asghar Yeckdeleh has hoped that bilateral trade and economic ties between the two countries would be stronger in near future.
He was speaking at the Lahore Chamber of Commerce and Industry. LCCI President Mian Abuzar Shad presented the address of welcome while Executive Committee Members Ahsan Shahid, Salman Ali, Manzoor Hussain Jaffery and Asif Malik were also present.
Iranian Consul General said that the Consulate has maintained excellent relations with the Lahore Chamber and this collaboration will continue. “Our Consulate General has always supported the business community, especially in facilitating visa issuance. Strengthening ties with Punjab and Lahore remains a priority and we are committed to playing an active role in this regard”, he added.
CG Iran invited LCCI leadership to participate in Iran’s National Day celebrations on February 11. He said that both the governments are working on solutions for financial transactions and other issues. He also congratulated LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry and the Executive Committee on their election.
LCCI President Mian Abuzar Shad said that Iran is a brotherly neighbor and we deeply value the strong trade and diplomatic relationship we share. Our aim is to transform these ties into robust trade and economic partnerships.
Acknowledging the Iranian Consulate’s consistent support, he said that the Consulate General has always maintained a close connection with LCCI, especially in accepting our recommendations for visa issuance.
Discussing the potential for enhancing trade, Mian Abuzar Shad said that Iran is an important trading partner. The issuance of SRO 642 by the Pakistani government on June 1, 2023 has provided the framework for initiating B2B barter trade. It is now the joint responsibility of both the governments, chambers of commerce and commercial sections to maximize this opportunity.
Mian Abuzar Shad proposed that Iran can import products such as rice, meat, textiles, fruits, vegetables and pharmaceuticals from Pakistan, while Pakistan can benefit from Iranian petroleum products and industrial raw materials. Additionally, single-country exhibitions and trade delegation exchanges are essential for better understanding each other’s markets and effectively utilizing the barter trade arrangement.
He said that LCCI strongly opposes smuggling as it negatively impacts the economy. Both the countries must collectively work to normalize trade and foster economic cooperation between our nations.
He also called for improved financial systems to facilitate seamless trade suggesting that Iran should establish a financial institution in Pakistan, and Pakistan should reciprocate by setting up one in Iran. This will enable documented and efficient trade transactions.
Copyright Business Recorder, 2024