ISLAMABAD (IRNA) – Iran and Pakistan have agreed that bilateral cooperation in various sectors of economy like energy, railways, roads and trade would be enhanced.

Iran’s Ambassador to Islamabad Mashallah Shakiri in a meeting with Pakistan Deputy Chairman Planning Commission, M. Salman Faruqui stated that his country was ready to export electricity to Pakistan and they had adequate capacity to carry out such projects.
He said that Iran was already working on Sahara hydel power project on the river Chenab and had raised its capacity from initially proposed 65 mega watts to 130 mega watts through IPP.
The Ambassador said that the present volume of trade between the two countries showed that the bilateral trade potential was untapped.
The volume of trade between Iran and other regional countries is significantly higher than that of Iran and Pakistan.
He proposed to establish Pakistan-Iran Joint Shipping Company that would enhance trade.
He also voiced Iranian interest in enhancing cooperation in banking sector by opening up branches of banks in each other's countries on reciprocal basis.
Deputy Chairman Planning Commission, Mr. Faruqui said that Pakistan was interested in importing electricity from Iran as Pakistan was currently facing power shortage.
He suggested bilateral negotiations to work out the modalities related to pricing and transmission.
He appreciated the proposal to establish a Joint Shipping Company to boost maritime cooperation and mutual trade and promised to examine the proposal. Pakistan National Shipping Company would be asked to look into this matter, he further said.
Mr. Faruqui also underlined the importance of modern railroad between Quetta and Taftan.
For this purpose, he said that funds could be raised together with Iran and by using the forum of Economic Cooperation Organization or Islamic Bank. Both the sides agreed to increase cooperation in health services and pharmaceutical sector as well.
Mr. Faruqui informed the Ambassador that Planning Commission of Pakistan had good mutual relationships with its Indian and Chinese counterparts and it wanted the same level of institutional interaction with its Iranian counterpart.
The Ambassador appreciated the proposal and assured that Iran would welcome institutional relations that would further enhance economic cooperation for regional development.