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Pakistan, Iran to explore trade potential

Lahore: The Iranian Consul General Muhammad Hussain Bani Assadi has said that Pakistan and Iran has the potential to cater to each other’s needs provided the business community in the two countries has the exposure to the available opportunities.

The Iranian Consul General was speaking at the Lahore Chamber of Commerce and Industry on Friday. The LCCI President Irfan Qaiser Sheikh, Senior Vice President Kashif Younis Meher and Vice President Saeeda Nazar also spoke on the occasion.

The Iranian Consul General said that the business community in the two countries would have to increase interaction to share their experiences in the larger interests of the people of two brotherly nations who have many commonalities. He said that the volume of mutual trade between Pakistan and Iran does not match the level of their brotherly relations. He said that both the countries and their respective trade bodies would have to focus on expansion of trade by holding single country exhibitions or through trade delegations to each other’s country.

He said that it was the duty of the chambers of commerce both in Iran and Pakistan to ensure dissemination of sector-specific and trade-related information. He said that both the countries should also share their experiences in the field of science and technology also.

He said that Agriculture, Tourism sector and Metal industry of Iran have a lot of opportunities of investment therefore Pakistani business community should avail this opportunity.

Speaking on the occasion, the LCCI President Irfan Qaiser Sheikh reassured the Iranian Consul General that the Lahore Chamber will continue to play its role for increasing bilateral trade and economic relations as a huge potential is still untapped in the two countries. The LCCI President however said that the bilateral trade would get a boost as soon as the gas pipe line project with Pakistan and Iran completes.

He said that Pakistan and Iran are two brotherly Islamic countries. Therefore, maximum efforts are needed to strengthen their relations in all fields.

He said both the sides need to conduct Market research to further strengthen trade relations between the two countries. Priority should be given to each other for import of goods rather than buying from distant countries.

There is a lot of scope for collaboration in SMEs and mega projects like onshore and offshore oil and gas exploration activities, hydel and coal based energy projects, paper and board, sugar, cement, chemicals, transport and communication, construction of roads in Pakistan, scientific and educational cooperation, handicrafts, artificial jewellery, carpets, fancy furniture etc.

Irfan Qaiser Sheikh said Pakistan is basically an agricultural country bestowed with variety of seasons and agro-based products. But due to lack of post harvest technology a lot of agriculture produce is wasted. Hence, cooperation in technology from Iran can help Pakistan’s agro-based food processing and dairy industry to improve.

Pakistan is one of the leading countries and known around the globe for its textile potential and products, which still needs to be properly introduced in Iranian business houses. Such efforts can also prove vital to equalize our trade balance.

Moreover, Cereals were the largest export item to Iran, which accounts for 44.89 percent of total exports. Articles of leather, animal gut, harness, travel goods, cotton and man-made staple fibres have the share between 9% to 12%.

Executive Committee members Sheikh Mohammad Arshad, Shoaib Zahid Malik, Kh. Khawar Rasheed, Husnain Reza Mirza and Nabila Intisar also spoke on the occasion.

For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat, Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854

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