Pak-Iran Trade Is On Growth Trajectory: Consul General Iran

Pak-Iran trade is on growth trajectory: Consul General Iran

Consul General of the Islamic Republic of Iran Mr. Mehran Movahhedfar on Tuesday said that Pak-Iran trade was on a growth trajectory despite restrictions and lack of banking channels etc

FAISALABAD, (UrduPoint / Pakistan Point News - 6th Jun, 2023 ):Consul General of the Islamic Republic of Iran Mr. Mehran Movahhedfar on Tuesday said that Pak-Iran trade was on a growth trajectory despite restrictions and lack of banking channels etc.

"We must exploiting the full potential of the two countries by encouraging direct contacts between the business communities of the two countries," he added.

Addressing the business community of Faisalabad in Faisalabad Chamber of Commerce & Industry (FCCI), he said that Faisalabad was the first city, he was visiting during his posting and it was not by chance but it was conscious efforts as he fully understood the agriculture and textile potential of this city.

He said that Iran could export raw material for the textile sector at comparatively cheaper rates. He said that Iran had justifications to ban import of rice from India and as a result of this step, Pakistan had captured 50% of the rice market of Iran. He quoted his meeting with the Pakistani ambassador in Tehran and said that he had disclosed that Pakistan had exported rice to the tune of $750million to Iran during last year. He said, "We should fully exploit our joint potential." He welcomed the new initiative of Pakistan to legalize barter trade and try their optimum best to give it quantum jump. He mentioned the inauguration of a new border market jointly by Iranian President and Prime Minister Shehbaz Sharif. He said that Pakistan was also importing electricity from Iran while it was exporting rice and now new opportunities were visible for the export of meat to Iran.

Responding to a question, he said that there was no security issue in the bordering areas and trade was going on uninterrupted.

He said that the women empowerment conference organized by the OIC had been postponed, however, Pakistani women entrepreneurs must participate in it in accordance with the new schedule. He welcomed the new SRO for barter trade and said that Punjab based businessmen should also avail from it. He said that through this SRO Pakistan had officially legalized the barter trade and its next step may be the issuance of joint currency.

Earlier President FCCI Dr. Khurram Tariq welcomed Iranian Consul General and said that his visit was very timely in the backdrop of SRO on barter trade. He introduced FCCI and said that it had 8500 members who belonged to 118 sectors and sub-sectors of trade, industry and commerce. He said that Faisalabad was a centrally located and well-connected city of Pakistan from where goods could be dispatched to any part of the country within hours. He said that FCCI had an international airport which handled 60 flights per week. Dr. Khurram Tariq said that this city was contributing significantly towards the national GDP. He stressed the need to maintain strategic balance in import and export between the two countries.

Vice President Haji Muhammad Aslam Bhalli, Mian Abdul Waheed, Ms. Nighat Shahid, Muhammad Akif of Lahore Chamber, Azhar Chaudhry, Salahuddin, Muhammad Qasim and Muhammad Asghar Qadri participated in the question answer session while Senior Vice President Dr. Sajjad Arshad offered vote of thanks. Later Dr. Khurram Tariq presented FCCI memento to the Iranian Consul General Mr. Mehran Movahhedfar. Iranian Consul General also recorded his impressions in the victor's book of the FCCI.