Iran ready to start barter trade with Pakistan to facilitate businessmen and to jack-up volume of two-way trade

Lahore, November 05, 2012 (PPI-OT): Iran is ready to start barter trade with Pakistan to facilitate the businessmen and to jack-up the volume of two-way trade.

This was stated by Iranian Consul General Muhammad Hossain Bani Assadi while speaking at the Lahore Chamber of Commerce and Industry on Monday. The LCCI Senior Vice President Irfan Iqbal Sheikh, Vice President Mian Abuzar Shad, Executive Committee Members Mian Zahid Javaid, Husnain Reza Mirza and former Vice President Aftab Ahmad Vohra also spoke on the occasion.

The Consul General said that Iranian government is well aware of the fact that the business community has been facing problems due to absence of banking channels but barter trade is the best way to tackle to issue till the establishment of banking mechanism between the two sides.

Over the issue of Iran-Pakistan Gas pipeline, the Consul General said that the work on this mega project is in full swing while the Pakistan government had already been conveyed that the Iran could also spread gas pipeline up to hundred kilometres inside Pakistan. He said that as soon as Pakistan government agrees to the proposal, other formalities would be finalised.

Mohammad Hossain Bani Asadi said that Pakistan and Iran have the potential to cater to each other’s needs provided the businessmen have the exposure to the available opportunities.

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. He said that the volume of mutual trade between Pakistan and Iran does not match their respective potentials. He said that Chambers of Commerce in the two countries would have to focus on expansion of trade by holding single country exhibitions and through trade delegations to each other’s country.

He said that dissemination of sector-specific and trade-related information would go a long way in achieving the goal. Both the countries should share their experiences in the filed of science and technology also.

Agriculture, Tourism and Metal industry of Iran have opportunities of investment therefore Pakistani business community should come forward. Speaking on the occasion, the LCCI Senior Vice President Irfan Iqbal Sheikh reassured the Iranian Consul General that the Lahore Chamber of Commerce and Industry would continue to play its role for increasing bilateral trade and economic relations.

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.

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 Iqbal Sheikh said Pakistan is basically an agricultural country bestowed with variety of seasons and agro-based products. But due to lack of post harvest technologies a lot of agriculture produce is wasted. Hence, 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, that still needs to be properly introduced in Iranian business houses. Such efforts can also prove vital to equalize our trade balance.

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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