Pak businessmen call for resumption of banking channel with Iran

They said this during a meeting with Ambassador of Iran to Pakistan Mehdi Honardoost at Islamabad Chamber Of Commerce and Industry (ICCI).

Under the agreement that has already been approved by Pakistani cabinet Iran and Pakistan will create a bilateral mechanism, according to which both countries will pay their traders on their own.

The traders said that lack of banking channel and opening of LCs is main problem for Pakistani traders and it should be resolved at the earliest.

They said that resumption of Pak-Iran banking relationship is vital for bilateral trade growth.

Senior Vice President of ICCI, Naveed Ahmad while expressing his views said the business body would like to have close relations with the embassy of Iran to explore all possible areas for cooperation between Iran and Pakistan.

“We want that Iran and Pakistan should develop economic relations to strengthen their economies and improve living standards of their people,” he said.

Expressing his views, Ambassador Mehdi Honardoost said regarding opening of LCs we have done 90 percent of the work to solve the issue, cabinet of Pakistan has approved the agreement between central banks of Iran and Pakistan.

“It is a very good step and only we are waiting for Pakistan to introduce two banks to us though I know the names of the banks, but officially we are waiting,” he said.

The envoy said that the embassy is working hard to introduce Iranian rice to the Iranian market which is more hygienic, also better in taste and has very good quality.

“Trade has lot of channels like cash, barter exchange and Pakistan traders can export rice to Iran and in exchange can import those products from Iran which are high in demand here,” he noted.

Mehdi Honardoost added: 'We believe that regional cooperation is the only way out to overcome our problems as we believe that local disease needs local treatment.

He said that interference of the big powers in region is good for nothing, adding that all countries of the region should believe in self-efficiency as it is not a dream.

“We attach much importance to the ECO and during the chairmanship of Pakistan we saw lots of activities and we are ready to work under the new Chairman Turkey, we are looking forward for more cooperation between Iran, Pakistan and Turkey as big countries in the ECO,” said the diplomat.

He was of the view that one day all countries of the region will come to this reality that we should not look to the foreign countries. “We should be self-efficient,” Honardoost said.

The ambassador said about two years ago Iran had requested for opening of Bank Melli in southern Pakistani city of Karachi, but so far they have received no response from Pakistan.

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