KARACHI: President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Engr. Daroo Khan Achakzai has emphasized on exploring new avenues of economic cooperation between Pakistan and Iran.

He said it was need of the hour in current global economic scenario that both countries should come forward to enhance and strengthen bilateral ties by facilitating the business communities with better banking channels, easy visa, harmonization of rules and regulations along with border trade facilitation, said a FPCCI statement on Friday.

He was talking to the Iranian Minister of Industries, Trade and Mines Reza Rehmani who visited FPCCI Capital Office, Islamabad along with official delegation consisting of Iranian government officials and businessmen. Iranian Ambassador to Pakistan Mehdi Honardoost accompanied the delegation. A large number of Pakistani businesspersons also attended the meeting.

While briefing the current position of trade and economic ties between Pakistan and Iran, he said although under preferential trade agreement between both the countries about 647 items were granted concession in import duties yet the trade volume was dollars 1.3 billion which was very low against the existing potential. On the other side, similar commodities were also exchanged under smuggling in a notable volume.