Iranian Envoy For Preparing Roadmap To Promote Trade, Investment

ISLAMABAD, (UrduPoint / Pakistan Point News - 06th Oct, 2016 ) : Ambassador Islamic Republic of Iran Mehdi Honardoost Thursday said that Pakistan and Iran should work out a roadmap for promotion of trade and investment between the two countries.

The Iranian envoy who visited board of Investment (BoI) here and met with Minister of State and Chairman BOI Dr. Miftah Ismail and Secretary BOI Azhar Ali Chaudhary said after lifting of US sanctions from Iran, Pakistan needed to promote investment and trade with Iran.

"We have the same interest, religion, culture, languages and traditional values, which differentiates Pakistan and Iran relations from other countries", he said adding Iran exports to Afghanistan were four times greater than Pakistan therefore Pakistan could also boost its trade with Iran where potential of trade and investment was even vast as compared to Afghanistan.

He stressed to implement the agreements already signed between Pakistan and Iran and to expedite Joint Economic Commission. The ambassador showed his great interest to link Iran with China Pakistan Economic Corridor (CPEC) projects, as they were capable and having capacity to develop all infrastructure, power generation, transmission line, energy and construction projects etc.

His government is also interested for establishment of power transmission line to Pakistan for boosting the electricity supply from 500 to 3000 MW, as Pakistan is energy hungry and Iran is over capacity to meet the demand of Pakistani government, Mehdi added.

Dr. Miftah Ismail thanked Mehdi Honardoost for visiting BOI and appreciated his efforts and intention to boost investment, trade and economic relation between the two friendly countries. The chairman informed that the government of Pakistan was very keen to boost trade and investment with Iran.

The chairman informed that Prime Minister of Pakistan was very much impressed from the economic development of Iran. As for energy and power transmission line to Pakistan is concerned, the chairman explained that it was very difficult to buy electricity from Iran and transmits the same through Baluchistan, because the areas of Baluchistan was neither over populated to consume the electricity, nor passing the transmission lines through Baluchistan province to any other province of Pakistan was possible its due to cost benefit ratio.

Therefore, this project perhaps may not be feasible to Pakistan. The chairman agreed with the Ambassador for exchange of business delegations between the two countries, formation of Joint Economic Commission and promotion of trade and investment in all potential sectors i.e infrastructure, construction, gas & power generation and other economic ties between the two brotherly Islamic countries.