SEZs on Pak-Iran border proposed

LAHORE: In a meeting with Iranian businesses, Lahore Chamber of Commerce & Industry (LCCI) proposed to set up Special Economic Zones (SEZs) on Pakistan and Iran borders to increase formal trade between the two countries.

The Lahore chamber, headed by its president Mian Nauman Kabir, met Mashhad Chamber of Commerce and Industry in Mashhad to discuss opportunities to grow bilateral trade between Pakistan and Iran.

Both business communities stressed need of establishing a mechanism to support businesses and improve regional economic situations. The meeting was informed that bilateral trade between the two countries was below to its real potential, and collective efforts from both sides could help to achieve it.

The LCCI delegation also urged for joint ventures to commensurate mutual trade with respective potential of both countries.

Talking on the occasion, Mian Nauman Kabir said there was a dire need to enhance business-to-business relations between Pakistan and Iran to steer socio-economic improvement in the region. He invited Iranian businesses to explore the potential economic areas of Pakistan.

Lack of trade-related information was one of the biggest reasons of low trade volume while the business communities of both the countries should play role in that regard, he added.

Kabir also suggested to issue long-term multiple entry visas to businessmen of both the countries for promotion of bilateral trade. He observed that both countries should adopt a new approach and should move forward at an accelerated pace.