Iraq has put forward a proposal to establish a maritime link between Basra, its southern port city, and Karachi, Pakistan’s primary commercial hub. The suggestion, announced by the Karachi Chamber of Commerce and Industry (KCCI) on Wednesday, is part of a broader strategy to strengthen trade and logistics between the two countries. The proposal was introduced by Iraq’s Consul General, Maher Mjhid Jejan, during his visit to the KCCI office, where he engaged with senior representatives to explore ways to enhance business relations.
According to the KCCI, the proposed sea link could play a crucial role in fostering closer ties between the business communities of Iraq and Pakistan. The link would facilitate smoother logistics and improve trade routes, potentially benefiting both economies. This comes at a time when both countries have ramped up diplomatic and ministerial-level engagements in various sectors, including defense, counterterrorism, and intelligence-sharing.
Pakistan, which is currently facing economic challenges, has been looking to deepen trade relations with regional allies. The government’s efforts to attract foreign investment and stimulate economic growth are aligned with this broader strategy. During the meeting, Jejan briefed the KCCI officials on Iraq’s newly implemented investment laws, which aim to attract foreign investors, including those from Pakistan. He assured the Chamber that the new legislation would be shared with Pakistani stakeholders, helping them navigate the emerging investment opportunities in Iraq.
Jejan highlighted the growing potential of the Iraqi market, noting the country’s rapid development and stable environment. He encouraged Pakistani exporters and investors to explore Iraq’s potential, inviting them to visit the country and experience its progress firsthand.
The KCCI also discussed trade statistics during the meeting. Senior Vice President Zia ul Arfeen shared that Pakistan’s exports to Iraq amounted to $54.29 million in the fiscal year 2024, while imports from Iraq totaled $145.46 million. Arfeen emphasized that these figures were below the true potential of the trade relationship and called for simplification of customs procedures, improved business practices, and the diversification of tradable goods and services.
In addition to the maritime link proposal, Arfeen suggested the idea of constructing an oil pipeline between Basra and Pakistan’s Gwadar port. He argued that such a pipeline could serve as a key trade corridor, allowing Iraq to access broader Asian markets and enhancing regional trade connectivity.
