TEHRAN – A Trade delegation from Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) traveled to Pakistan to discuss expansion of trade ties between the two countries.

In a meeting with their Pakistani counterparts on Tuesday, the Iranian delegation criticized the low level of trade between the two sides and suggested taking serious measures like holding exhibitions, exchanging business delegations and the use of non-bank channels for money transfers, for boosting the trade between the two nations.

Led by TCCIMA Head Masoud Khansari, the delegation also visited Federation of Pakistan Chambers of Commerce & Industry (FPCCI), during which FPCCI President Mian Anjum Nisar said the level of economic relations between the two countries was insufficient considering the existing capacities and cultural closeness between the two sides.

“Although the two countries have signed a preferential trade agreement a few years ago, none of them has used this opportunity properly,” Nisar regretted.

According to the official, the U.S. sanctions against Iran are a major part of the obstacles to the development of economic cooperation between the two countries, and both sides need to take serious measures to resolve such problems. 

During the visit to Pakistan, the Iranian delegation also met with the Chief Executive of Trade Development Authority of Pakistan (TDAP) Arif Ahmed Khan in Karachi.

In the meeting, the two sides emphasized the need to use solutions such as the preferential trade agreement, free trade agreement, and removing customs barriers for boosting trade relations between the two countries. 

Speaking in this event, the head of the Tehran chamber pointed out some of the obstacles in the way of the development of the two sides’ economic cooperation, noting that the annual trade between Iran and Pakistan does not exceed $1.5 billion. 

Ahmad Khan for his part noted that both Iranian and Pakistani authorities should know that the development of trans-regional trade is subject to a boom in regional trade. Therefore, along with the cultural, religious and geographical commonalities, the two countries must also take operational steps to improve trade relations.

EF/MA

Photo: TCCIMA Head Masoud Khansari (3rd L) explores ways of expanding bilateral trade ties with Chief Executive of Trade Development Authority of Pakistan (TDAP) Arif Ahmed Khan (5th L) in Karachi on Tuesday.