The Second Iranian Solo Trade Exhibition is scheduled to be held from Jan. 14-17, 2023, at the Karachi Expo Center by East Golden Gate and the Iran-Pakistan Chamber of Commerce.
The exhibitors will showcase their products and services in a wide range of fields and industries, including oil, gas and petrochemicals, water and electricity, construction materials, agriculture and food, machinery and packaging, household appliances, carpet and furniture.
The event licensed by the Trade Promotion Organization of Iran is aimed at increasing trade between the two countries.
Those interested may contact +989153414573, +989025315179 and +982188381320 for further information.
Iran’s exports to Pakistan stood at 1.6 million tons worth $704 million in the current Iranian year’s seven months (March 21-Oct. 22), according to the spokesperson of the Islamic Republic of Iran Customs Administration, Morteza Emadi.
Liquefied petroleum gas, hydrocarbon gas liquids, bitumen, milk powder, liquefied natural gas and liquefied butane were the main exports, IRIB News reported
Iran’s imports from Pakistan hit 512,000 tons worth $563 million during the same period.
Rice, mango, sesame seeds and banana were the main goods imported during the period.
The above data indicate that total trade between the two sides stood at over $1.26 billion during the period with Iran, registering a trade surplus of $141 million.
“Iran and Pakistan will soon start free trade,” said Chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture Gholamhossein Shafei in his recent meeting with President of Federation of Pakistan Chambers of Commerce and Industry Irfan Iqbal Sheikh.
An Iranian trade delegation from the Iranian private sector led by Shafei visited Karachi, Pakistan, in October. The delegation participated in the first meeting of Pakistan-Iran Business Council.
The mission was made up of 26 businesspeople active in the fields of foodstuff, agricultural products, petrochemicals, chemicals and textile, as well as heads of chambers of commerce of several Iranian cities and members of parliament, ICCIMA’s news portal reported.
Iran’s Cabinet members recently issued a permit for the Industries, Mining and Trade Ministry to negotiate, revise and sign a temporary free trade agreement between Iran and Pakistan with regard to the huge volume of capacities in Iran's eastern neighbor, Pakistan, for expansion of bilateral trade and turning that country into an important export market for Iran, IRNA reported.
Pakistan and Iran have decided to finalize and sign a free trade agreement within the next six months with the aim of increasing bilateral trade, Pakistan’s Commerce Ministry said recently.
The decision was taken at the 21st session of Pakistan-Iran Economic Commission hosted by Pakistan from Aug. 16-18, Pakistan Observer reported.
The two sides also decided to work together to operationalize barter trade as per an agreement signed between Quetta and Zahedan chambers of commerce.
Both sides agreed to discuss removal of tariff and non-tariff barriers to enhance bilateral trade.
On the sidelines of the commission meeting, the two chambers of commerce decided to increase business-to-business interactions.
Pakistan Businesses Forum Senior Vice President Muhammad Riaz Khattak recently said Pakistan has a narrow export basket to Iran, as rice comprises 63% of exports.
A preferential trade agreement was signed with Iran in 2006. Tariff concessions were granted to Iran on 309 tariff lines whereas Pakistan was given concessions on 338 tariff lines.
Major sectors covered under the PTA include rice, fruits, cotton, cotton yarn, pharmaceutical products and cutlery. In 2017, both sides decided to finalize the proposed FTA by November that year. The trade negotiating committee of both countries held two rounds of discussions on FTA when it was projected that the agreement would increase bilateral trade from $300 million in 2016 to $5 billion by 2021.
However, the lack of a payment mechanism casts a shadow on the viability of a much-awaited agreement, the Nation reported.
