Members of Tehran Chamber of Commerce, Industries, Mines and Agriculture and those of Lahore Chamber of Commerce and Industry are scheduled to hold an online forum on Dec. 8.
Businesspeople and economic players from the two sides will attend a videoconference to survey ways of expanding bilateral ties in the fields of energy, tourism, transportation, food, agriculture, pharmaceuticals, health, apparel, textile and leather, among others, TCCIM’s news website reported.
Industrialists and businesspeople willing to take part in the event have until Dec. 5 to complete and submit the registration form on the website.
According to President of SAARC Chamber of Commerce and Chairman United Business Group Iftikhar Ali Malik, currently trade between Iran and Pakistan stands at $359 million per year, including exports to Iran amounting to $36 million against its imports at $323 million.
“Iran is ready to export petrochemical, steel and liquefied petroleum products to Pakistan in return for rice, meat and other agriculture products in a barter trade arrangement,” says Iranian Consul General Reza Nazeri.
Addressing a September meeting with Pakistani businessmen, Nazeri had said Iran is willing to start barter trade with Pakistan with energy and agriculture sectors having potential to increase exports and imports.
“The volume of two-way trade between Pakistan and Iran is negligible. The mutual trade of two countries does not match their respective potentials,” he said.
“Pakistan and Iran have the potential to cater to each other’s needs, provided businessmen have the exposure to the available opportunities. The business community in the two countries would have to increase interaction to share their experiences in the larger interests of the people of two brotherly nations.”
The envoy said the chambers of commerce of the two countries would have to focus on expansion of trade by holding exclusive exhibitions and exchanging trade delegations.
“Dissemination of sector-specific and trade-related information would go a long way in achieving the goal,” he said.
The Iranian consul general said agriculture, tourism and metal industries of Iran have investment opportunities and Pakistani business community should come forward.
Federation of Pakistan Chambers of Commerce and Industry President Anjum Nisar said the low volume of trade is mainly due to ignorance about each other’s potential and non-utilization of territorial connectivity.
“Tariff and non-tariff barriers are major obstacles in the way of trade enhancement. All the four traditional transportation modes are available for bilateral trade between Pakistan and Iran, including air, sea, road and rail, but unfortunately none of these modes of transportation is efficiently and economically utilized at present,” he said.
Nisar said transport licenses should be issued to allow vehicles move freely across the border.
“Through this step, exporters of both the countries would be able to get direct access to consumers. The other step is to provide proper and complete information about the products, which can be done by organizing exclusive exhibitions,” he said.
The Pakistani government has decided to establish 18 markets along its borders with Iran and Afghanistan with a view to boosting trade with the two countries and curbing the menace of smuggling.
The decision was taken recently at a meeting chaired by Pakistan’s Prime Minister Imran Khan.
