KARACHI: Iranian Consul General Ahmad Mohammadi has said has said that there is a huge potential to enhance bilateral trade and economic relations between Iran and Pakistan in a variety of subjects, however, there are many hurdles hindering smooth trade between the two nations.
Speaking at a meeting of Karachi Chamber of Commerce & Industry (KCCI), he said that one of the most important actions for increasing the existing bilateral trade was business communities’ participation in numerous exhibitions being held either in Iran or Pakistan.
He said that bilateral trade volume stood at $1.5 billion during 2018; however, actual trade volume was way higher than what official figures quoted because of massive indirect trade taking place between the two countries due to absence of a proper banking channel.
“Almost two-and-a-half years ago, we held Iran’s Solo Trade Exhibition here in Karachi which was very successful, bringing the business communities closer to one another. More such exhibitions must be arranged in either Karachi or Tehran or any other city of Iran that would surely pave way for much improved trade ties,” said the Consul General.
“We, at the Iranian Consulate, are very serious towards resolving all the issues so that bilateral trade and economic relations could reach their actual potential,” he added
President KCCI, Agha Shahab Ahmed Khan said that despite being brotherly countries, trade has remained low.
He pointed out that bilateral trade between Pakistan and Iran was much less than the potential as Pakistan exports stood at a mere $330.2 million while the imports were around $1.247 billion during 2018.