Establishment Of Pak-Iran Border Markets To Help In Economic Growth

ISLAMABAD, (UrduPoint / Pakistan Point News - 19th May, 2023 ) :Coordinator to Federal Tax Ombudsman and Chairman Kyrgyzstan Trade House Meher Kashif Younis has said the establishment of border markets between Pakistan and Iran would have a significant impact on the economy of both countries, besides controlling the menace of smuggling.

Talking to a delegation of industrialists led by Mian Faiz Bukhsh Arain, CEO IT Professionals on Friday, he said border markets would further facilitate trade between the two Muslim countries by providing a convenient platform for the exchange of goods and services, said a press release.

He said it would boost bilateral trade volumes, leading to increased economic activity and revenue generation for both countries, adding that it would also promote regional integration by connecting the economies of either country.

Kashif Younis said increased trade and economic cooperation were poised to strengthen ties between the two nations and foster greater collaboration in other sectors, such as energy, transportation, and infrastructure development.

He said it would create employment opportunities for local communities on both sides of the border, adding that it would also stimulate economic growth, especially in the border regions, and improve the livelihoods of people by providing them with jobs and income-generating activities.

Pakistan-Iran trade cooperation would enable the diversification of trade and can encourage the exchange of a wide range of goods, including agricultural products, textiles, handicrafts, and consumer goods, contributing to a more balanced and diversified trade portfolio, Kashif Younis stressed.

He said border points could attract tourists and encourage cross-border travel, adding that people from neighboring regions may visit these markets to explore new products, experience different cultures, and engage in trade.

Kashif said the influx of tourists could boost local economies, create opportunities for hospitality and tourism-related businesses, and generate revenue through tourism-related services.

He said such markets provide opportunities for cultural exchange and interaction between people from Pakistan and Iran and frequent interactions could foster mutual understanding, promote cultural appreciation, and enhance people-to-people ties, which can contribute to stronger diplomatic relations and cooperation between the two nations.