Today.Az » Business » Iran and Pakistan discussed Free Trade Agreement
26 February 2020 [17:20] - Today.Az
By Akbar Mammadov
The Iranian delegation visited Pakistan to hold a meeting with their Pakistani counterparts in order to discuss taking serious measures such as exchanging business delegations, using non-bank channels for money transfers, organizing exhibitions, and developing trade relations between both countries.
Mian Anjum Nisar, President of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) discussed the current situation of trade relations between countries with the Iranian delegation led by TCCIMA Head Masoud Khansari.
“The level of economic relations between the two countries was insufficient considering the existing capacities and cultural closeness between the two sides,” Nisar said.
He also regretted that although the two countries had signed a preferential trade agreement a few years ago, none of them used this opportunity properly.
After that meeting, the Iranian delegation also held a meeting with the Chief Executive of Trade Development Authority of Pakistan (TDAP) Arif Ahmed Khan in Karachi.
The meeting covered the need to take actions like the preferential trade agreement, free trade agreement and remove of customs barriers in order to boost trade relations between Iran and Pakistan.
Mentioning some available obstacles in this way, Masoud Khansari noted that the annual trade between both countries is not higher than $1.5 billion.
During the discussion, Ahmed Khan said that both countries’ authorities need to know the fact that the development of trade relations can lead 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.” Ahmed Khan mentioned.