TEHRAN – Iran’s Trade Promotion Organization (TPO) has signed a memorandum of understanding (MOU) with the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) to pursue and develop free trade with Pakistan.

Signed by TPO Head Alireza Peyman-Pak and TCCIMA Head Masoud Khansari on Saturday, the MOU is aimed at developing the exports of Iranian products to the Pakistani market, the TCCIMA portal reported.

Based on the MOU, TPO as a government body, and TCCIMA as a representative of the private sector are going to share their capabilities and development capacities to provide the basis for better identification of the Pakistani market and increase the export of Iranian goods to this country.

Preparation and formulation of laws and guidelines related to exports to Pakistan with the consultation and cooperation of TCCIMA, sending trade delegations to this country, and also cooperation to create financial and banking channels between Iran and Pakistan are also among the areas of cooperation between the two sides.

Speaking at the signing ceremony, Peyman-Pak mentioned Pakistan as one of TPO’s priority markets for enhancing the country's business plans and emphasized that establishing direct transit as well as creating a financial and banking mechanism between Karachi and Tehran are two key axes in the development of business relations with this country.

Also, Khansari, in his speech, underlined the TCCIMA plans and actions in recent years to develop the economic relations of Iranian companies with neighboring countries and expressed the chamber’s full readiness to cooperate with TPO in order to develop exports to Pakistan.

He mentioned the exchange of several business delegations between Iran and Pakistan and the government's efforts for signing a free trade agreement between the two countries as positive steps for the development of economic relations, saying: “Establishing a free trade agreement is a big step towards long-term economic cooperation, especially the growth of Iran's exports to Pakistan.”

EF/MA

Photo: TPO Head Alireza Peyman-Pak (R) and TCCIMA Head Masoud Khansari pose with signed MOU documents.