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At the last meeting, both countries had decided to carry out further deliberations in order to complete all annexes of the FTA agreement by June 2018, which would complete the technical process of final FTA for consequential approval by the respective governments.
In this connection, the ministry has invited request for proposal (RFP) from consultancy firms/individual consultants to conduct a research study on Pak-Iran bilateral trade relations.
The Ministry of Commerce said Pakistan was looking forward to strengthening its relationship with Iran through enhancing bilateral trade relations.
In December 2016, Pakistan and Iran started negotiating a FTA with the resolve to timely complete the negotiation process and achieve the objective of enhancing bilateral trade for the betterment of people of both countries.
The talks were an outcome of a MoU signed by Islamabad and Tehran on a five-year strategic trade cooperation plan in March 2016.
According to a document, the ministry has sought comprehensive analysis of international trade behavior of Iran, sanctions relief and regional integration, Pakistan-Iran bilateral trade patterns, Pakistan’s export potential to Iran and establishment of banking channels.
The research study will analyze procedural requirements, including customs procedures of the importing country, comparative study of regional trade arrangement and their implications on Pak-Iran FTA and analysis and suggestion on trade remedies.
The ministry has also sought a detailed overview of the existing banking system used by other key trading partners of Iran for payments.
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