TEHRAN - Iran, and Pakistan signed a memorandum of understanding (MOU) for joint collaboration for the electronic exchange of information between the customs of the two countries, Tasnim news agency reported.

The MOU was signed in Islamabad on Monday by Director General of Information Technology and Communication of the Islamic Republic of Iran Customs Administration (IRICA) Hayedeh Baqeripour and Chief of International Customs at Pakistan’s Federal Board of Revenue (FBR) Fayaz Rasool Maken.

Based on the MOU, the information regarding the two neighbors’ trade and customs processes will be exchanged electronically. 

This will consequently accelerate and facilitate trade and reduces related costs while eliminating the possibility of counterfeiting and smuggling.

In this signing ceremony, attended by customs authorities of Pakistan and senior diplomats of the two countries, Iranian and Pakistani customs officials emphasized the need for expansion of economic ties and the increase of bilateral trade exchanges.

Given the existing capacities and interests of the two countries to expand their trade and economic cooperation, the volume of trade exchanges between Iran and Pakistan can be higher than the current level, the two sides stressed.

Since Pakistan has recently taken membership in TIR Convention (International Road Transports), suitable opportunities have been provided for increasing cooperation between customs offices of the two countries in the field of international transport and transit of goods.

EF/MA