Islamabad, July 04, 2019 (PPI-OT): An Iranian delegation led by H.E. Reza Rahmani, Minister for Industries, Mine and Trade called on Mr. Razaq Dawood, Advisor to PM on Commerce, Textile, Industries and Production, and Investment in the first session of 8th Pak-Iran Joint Trade Committee to review progress of issues relating to bilateral trade. The Advisor to PM apprised the delegation that Pak-Iran bilateral trade was not up to the available potential and urged the Iranian side to take necessary steps to remove non-trade barriers so that real potential of bilateral trade could be realized.
The Iranian Trade Minister appreciated the Advisor’s stance on the bilateral trade issues and agreed to accelerate efforts to enhance trade with Pakistan in order to increase the economic well being of people of both countries. He further added that being brotherly and neighboring countries we should further strengthen existing trade ties for the well being of our peoples. He resolved to address all the issues which are hampering bilateral trade and assured to create win-win situation for both the countries. The Advisor informed the delegation that Pakistan intends to increase the bilateral trade and economic ties. He underlined the importance of issues, pertaining to bilateral trade, which were discussed during Prime Minister’s last visit to Iran and expected positive response from Iranian side.
These issues include removing barriers which have made Pak-Iran PTA (signed in 2006) ineffective and working out barter trade mechanism in order to increase bilateral trade in agricultural/food products and pharmaceutical. To start the barter trade, at the first instance both the countries should select few items having competitive advantage, he asserted. In this regard, Pakistan can enhance export of wheat, sugar and rice and fruit to Iran. Iranian side acknowledged the fact that Pak-Iran trade relations are not matching the real potential.
They emphasized the requirement of the constitution of a committee for barter trade. Both the countries have huge potential in agriculture which is not yet exploited, they highlighted. Iran showed interest in import of 5 lac ton rice from Pakistan and asked the Pakistani side to devise necessary mechanism for early shipment.
The Iranian delegation extended its full support to work on removal of potential bottlenecks to increase trade and jointly develop a way forward. Further, they also requested the Pakistani Government to open more border points between Pakistan and Iran mainly at Ramdan, Pishin and Korak, which will further enhance the bilateral trade. The Advisor also suggested to remove various forms of taxation such as road and loads taxes on vehicles/trucks which are crossing the borders to facilitate the bilateral trade.
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