Economy, Domestic Economy

TCCIMA Hosts Pakistan’s Business Mission

TCCIMA Hosts Pakistan’s Business Mission TCCIMA Hosts Pakistan’s Business Mission

A 24-member delegation from Lahore Chamber of Commerce and Industry met Iranian private sector businesspeople in Tehran’s Chamber of Commerce, Industries, Mines and Agriculture on Saturday to discuss ways of expanding economic relations.

Cooperation in industries, mining, agriculture, livestock, health, tourism and energy, including the development of Iran-Pakistan Gas Pipeline and electricity exports to Pakistan, transportation and telecommunications, establishment of direct flights and monetary and banking cooperation were among the topics discussed during the meeting, TCCIMA’s news service reported.

The two sides also considered reducing tariff rates as a means of facilitating commerce and increasing bilateral trade.

“Tariff cuts would lead to a reduction in commodity smuggling while increasing trade through official channels,” deputy head of TCCIMA, Mehdi Jahangiri, said in an address to the meeting.

Pakistan’s Ambassador to Iran Noor Mohammad Jadmani referred to the latest session of Iran-Pakistan joint commission, which was held in Islamabad back in December, adding that such meetings contribute to the strengthening of commercial ties between the neighboring countries.

The Pakistani mission, which arrived in Tehran on Friday for a seven-day visit, aimed at exploring trade and investment opportunities and possibilities of joint ventures between the private sectors of the two countries. LCCI’s Senior Vice President Almas Hyder is leading the delegation.

Back in January, President Hassan Rouhani and visiting Pakistani Prime Minister Nawaz Sharif set the target of increasing the current unimpressive bilateral trade value of $900 million to $5 billion in the coming years.

Pakistani Commerce Minister Khurram Dastgir Khan last week said his country is seeking to restore its former position in commercial cooperation with Iran.

“We are currently in talks with the corresponding Iranian ministries to export agricultural products, including rice, wheat and meat, to the country,” he said.

The talks are aimed at signing cooperation contracts between the two countries and eliminating obstacles to agricultural exports to Iran.

In line with the removal of international embargo against Iran’s nuclear program, Pakistan lifted its economic sanctions on Iran earlier in February.