Iran sees strong future economic ties with Pakistan

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LAHORE: Iranian Consul General Mohammad Reza Nazeri on Monday said that despite all odds, the bilateral trade between Pakistan and Iran is good and hoped that mutual trade and economic relations would be stronger in the future.

In a meeting with office-bearers of the Lahore Chamber of Commerce and Industry (LCCI), the consul general called on the LCCI office-bearers to hold detailed discussions on trade and economic relations between the two countries.

Mohammad Reza Nazeri said that Pakistan and Iran have common borders and cultural bonds. Iran has always tried to strengthen bilateral relations with its neighbouring countries and its first priority is Pakistan.

He extended an invitation to the LCCI members, asking them to participate in two separate exhibitions of hot and cool equipment and medical equipment to be held in Iran after 10 days and 40 days respectively.

LCCI President Irfan Iqbal Sheikh said that an Export Desk is being established in the Lahore Chamber soon. He underlined that Pakistan and Iran had huge domestic markets and a unique geostrategic competitive advantage.

LCCI chief said that there are some bottlenecks in the way of increasing trade between the two countries which are required to be addressed on a priority basis. By reducing smuggling and undocumented trade, we can quickly improve the figures of bilateral trade, he added.

“In order to make use of each other’s strong areas, both countries need to make joint efforts,” he emphasised. “Latest trade figures do not reflect the actual potential of trade that exists between the two nations.”

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