Economy, Domestic Economy

Iran Interested in Participating in CPEC

Iran Interested in Participating in CPECIran Interested in Participating in CPEC

Iran has expressed interest in participating in the China-Pakistan Economic Corridor Project (CPEC), terming it one of the biggest projects of the region. Iran’s Ambassador to Pakistan Mehdi Honardoust made the statement in a meeting with President of the Federation of Pakistan Chamber of Commerce and Industry, Abdul Rauf Alam, the Pakistani newspaper The Express Tribune reported. CPEC covers projects currently under construction, which is intended to rapidly expand and upgrade Pakistani infrastructure, as well as broaden economic links between Pakistan and China. The corridor is considered an extension of China’s ambitious proposed 21st-century Silk Road initiative and the importance of CPEC to China is reflected by its inclusion in China’s 13th five-year development plan. Honardoust added that Iran-Pakistan bilateral trade will get an unprecedented boost after the resolution of banking problems. He noted that Pakistani textiles, rice, surgical goods, sports gear and agricultural products are in great demand in Iran. The FPCCI president said Pakistan is willing to increase its gas and electricity imports from Iran, calling on Tehran to reduce prices.