Pakistan, Iran partnership suggested for economic development

PESHAWAR: The government officials have called for a partnership with the Islamic Republic of Iran for economic development and creating new opportunities for businesses in the region.

The suggestions were made when the Ambassador of the Islamic Republic of Iran Dr Reza Amiri Moghadam visited the Khyber Pakhtunkhwa Board of Investment and Trade (KP-BoIT) here and interacted with the board, government officials and business associations at “KP-IRAN Investment Dialogue”.

Representatives from the Trade Development Authority of Pakistan, KP Economic Zones Development and Management Company, the Small Industrial Development Board, the Industries Department and Business Associations of different sectors Including the Sarhad Chamber of Commerce and Industry, All Pakistan Commercial Exporters Association, Gems and Jewelry Association and others were present.

A discussion between board officials and the Iranian ambassador was held on potential business opportunities as well as to explore the rich culture and historical aspects that bind the two nations together.

Director of Business Facilitation Iqbal Sarwar gave a detailed presentation about Khyber Pakhtunkhwa, the vision, mission and role of KP-BoIT, while the board member, Shahid Shinwari, invited Iranian diplomat and his country’s business community to participate in KP-BOIT’s International Investment and Trade Expo, in Islamabad to be held in September, this year.

The Iranian ambassador had a dialogue session with key stakeholders from various business associations within the region and government officials.

The discussion revolved around fostering stronger economic ties, exploring investment opportunities and enhancing bilateral relations, trade and enhancing border trade between Iran and Khyber Pakhtunkhwa.

Moreover, current diplomatic relations between Iran and Khyber Pakhtunkhwa, business opportunities in Iran and Khyber Pakhtunkhwa, cultural and historic aspects, and opportunities for collaboration in various sectors, were discussed as well.

The session provided a platform for a meaningful exchange of ideas, insights, issues and challenges in trade, banking channels, and potential collaboration aimed at promoting economic growth and prosperity in the region.

Representatives of both countries expressed interest in strengthening partnerships and exploring new avenues of cooperation.Secretary Industries and CEO of KP-Bo IT, Syed Zulfiqar Ali Shah, talked about historic, cultural and trade relationships with Iran.

He stated that issues in terms of trade, faced by both sides may be shared with the government of KP so that necessary actions at national and regional levels may be initiated.The business chambers and associations from different sectors suggested that exchange visits of business delegations and expo, seminars, or webinars may be arranged to showcase investment opportunities of both sides to achieve significant progress in fostering bilateral relations and trade.