Economy, Domestic Economy

Trade Team to Visit Pakistan

Trade Team to Visit PakistanTrade Team to Visit Pakistan

An Iranian trade delegation will visit Pakistan in August to address issues related to bilateral trade and investment and explore opportunities following the nuclear deal reached between Iran and world powers, said Pakistan’s deputy minister of commerce Rubina Athar. The trade delegation will meet Pakistan’s Minister of Commerce Khuram Dastgir, Finance Minsiter Ishaq Dar and Petroleum Minister Shahid Khaghan Abbasi as part of their visit, IRNA quoted Athar as saying. During Dastgir’s visit to Iran in April, the two sides agreed to increase bilateral trade from the current annual $1 billion to $5 billion in five years. Issues such as smuggling and banking hurdles that are presently inhibiting bilateral trade will be addressed during the visit. “There is currently a Preferential Trade Agreement signed between the two countries which can be converted into a Free Trade Agreement after the sanctions are officially lifted,” Athar added. Senior vice president of chamber of commerce and industry of Khyber Pakhtunkhwa Province of Pakistan recently proposed establishing a joint chamber of commerce in a bid to fully exploit the trade potential following the lifting of sanctions.