Lahore hosts meeting aimed at elevating trade volumes between Iran, Pakistan
Date
6/23/2024 5:44:20 AM
(MENAFN) In a proactive step towards enhancing economic ties, Lahore recently hosted a pivotal meeting aimed at elevating trade volumes between Iran and Pakistan to USD10 billion, a goal set during the late Iranian President Ebrahim Raisi's visit to Pakistan. The meeting, held on Thursday, convened ambassadors from both nations alongside officials from the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
Key discussions at the meeting centered on identifying barriers that currently hinder bilateral trade. Participants highlighted challenges such as the absence of robust banking channels, the imperative of constructing a gas pipeline linking Iran to Pakistan, the potential implementation of a barter system, and the urgent need to finalize a free trade agreement. Additionally, there was emphasis on organizing specialized exhibitions akin to Iran Expo, aimed at showcasing Pakistani goods in Iran.
Iran's Ambassador to Islamabad, Reza Amiri Moghadam, underscored the strategic significance of Chabahar port, emphasizing its capacity to serve as a crucial gateway for Pakistani businesses to access not only the Iranian market but also to facilitate onward trade routes to Western Asian and European markets. This perspective opens up new avenues for economic collaboration and trade expansion between the two neighboring nations.
The Lahore meeting reflects a shared commitment to harnessing economic potentials and overcoming existing challenges, paving the way for a more integrated and mutually beneficial trade relationship between Iran and Pakistan. By addressing logistical hurdles and exploring innovative trade mechanisms, both countries aim to achieve substantial growth in bilateral trade, thereby fostering greater economic prosperity and regional stability.
MENAFN23062024000045015839ID1108361618
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.