Pakistani traders, Iran embassy reaffirm commitment to enhance trade ties

Ambassador Mehdi Honardoost and a delegation from Sialkot Chamber of Commerce and Industry, during a meeting in Islamabad, agreed to work closely for enhancing trade volume between the two countries which currently stands at $ 1.2 billion.

The Pakistani businessmen said that Pakistan and Iran need to extend more cooperation in the private sector to improve industrial ties so that both countries can benefit from each other experience.

They added that huge potential between Iran and Pakistan must be exploited for the benefit of the people of the two countries.

Ambassador Honardoost, expressing his views, said that the business between Iran and Pakistan is tangible part of bilateral relations.

“I request and recommend to all of our brothers, please be more in touch with our embassy and receive more information about your counterparts as lack of information is the major problem that we are facing right now,” he said.

He said there are lots of opportunities for Pakistani traders in Iran and the embassy is ready to link them to the relevant departments in private or government sectors in Iran.

“If we say that doors are open it means they are open, Iranians are ready to work with Pakistanis,” he said.

He added, 'Iran is a great market and also you can use the Iranian transit potential for your access to the markets that are far from you.'

The diplomat noted that Pakistani rice is more hygienic, also better in taste and has very good quality but why some other countries are active in the field.

“Why don’t you go to Iran and meet private sector to import those items from Iran which are required in Pakistan,” Mehdi Honardoost said.

Member of Sialkot Chamber of Commerce and Industry said only 32 companies from Sialkot which is a major export city of Pakistan are registered in Iran. “Our companies are regularly exporting goods to Iran and they are very happy, but the issue is long term visa otherwise we will be frequently travelling to Iran to meet our trading partners over there,” he said

He added most of the companies doing business with Iran use a third country for exports towards Iran which is not good for the traders of both the countries.

Ambassador Mehdi Honardoost noted that the Iranian embassy always welcomes the businessmen. “We are ready to improve trade ties with Pakistan, our bilateral trade currently stands $ 1.2 billion which should be increased in future, big market of Iran requires big customers and giant companies, so Pakistani businessmen should seize this opportunity,” he pointed out.

He said, 'Yes, due to American sanctions, we have problems on dollar transactions, but it can be done in other currencies like Euro and Japanese yen. “Another option we have is the barter trade,” he said.

He said, 'You can open accounts in the local currencies because both sides have already agreed to this.'

“We are facing problems in opening of LCs, our central bank has written a letter to its Pakistani counterpart to introduce some Pakistani banks to Iran but we are still waiting for the response of Pakistan side. Last year, both sides also agreed for opening of Bank Melli in Karachi but it is still to be implemented,” said the ambassador.

The Iranian envoy expressing his views said that the Iran-Pakistan (IP) gas pipeline project should be completed as it is a very important project; it can change the face of Pakistan’s economy.

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