Iran wants increased trade with Pakistan

KARACHI: Mehdi Pour Ghazi, head of industrial committee of Tehran Chamber of Commerce and vice president of Iranian National Plastic Association, has said that good opportunities for enhancing trade exist between Pakistan and Iran, but the traders of both countries were reluctant in dealing with each other due to the sanctions on Iran.
Ghazi, who led an Iranian delegation during its visit to KCCI on Thursday evening, added that Iranian businessmen, industrialists and traders were looking forward to healthier trade relations with their counterparts in Pakistan, as sanctions on Iran would soon be lifted.
The Iranian delegation visited KCCI to explore possibilities of enhancing business and trade ties with Pakistan. Commercial Counsellor of Iranian Consulate in Karachi, Sattar Soltan Shahi, KCCI President Iftikhar Ahmed Vohra, KCCI Senior Vice President Muhammad Ibrahim Kasumbi and others were present at the meeting. The Iranian delegation members, comprising manufacturers and exporters of plastic, petrochemicals, polymer and other similar goods inquired about Pakistan’s custom tariffs policies and how KCCI could help in ensuring smooth transportation of Iranian goods to Pakistan.
In response, KCCI president said that Iranian businessmen would face absolutely no problems in transporting goods to Pakistan if the goods being exported were carrying all the required documents.
Vohra said sanctions on Iran and suspension of L/C had terribly affected trade between the two countries, but the situation was likely to improve in the next two to three months after lifting of sanctions. Lack of proper banking channels between Pakistan and Iran kept business activities very limited which would be resolved as soon as Iranian sanctions were removed, he added.
He said both the countries must make efforts and devise a strategy to deal with smuggling, as such efforts would certainly prove favourable for both the economies.
The KCCI president also stressed the need to regularly organise visits of trade delegations to both countries in order to bring the business communities closer.
KCCI Senior Vice President Muhammad Ibrahim Kasumbi stated that there was a huge potential to enhance trade between Pakistan and Iran. He was of the view that China-Pakistan Economic Corridor (CPEC), which was likely to be linked with Iran as well, would surely open up new avenues of investment and business expansion in the entire region.
He was of the view that removal of sanctions on Iran would result in substantially improving the existing trade volume. “Keeping in view the trade potential between Pakistan and Iran, trade between the two countries will not remain limited to millions but may touch billions,” he added.