Ambassador Iran emphasizes the need to increase the trade volume from $2.7 billion to a target of $10 billion.

ISLAMABAD: Iranian Ambassador H.E. Raza Amiri Moghaddam has  emphasized the need to increase the trade volume between the two countries from the current $2.7 billion to a target of $10 billion. He said this in his visit to The Islamabad Chamber of Commerce and Industry (ICCI) .

The two sides agreed to further enhance economic, trade, and cultural relations between Pakistan and Iran. To achieve this goal, they established a four-member committee (two members from each side) for further deliberations and to maintain close coordination on necessary actions.

Pakistan Iran to Strengthen Mutual Cooperation – Ambassador Eyes Trade Volume at $10 Billion

Ambassador Moghaddam acknowledged the progress in Pakistan-Iran relations in recent years but highlighted that there remains significant untapped potential for deeper collaboration.

The Ambassador proposed transforming the Pakistan-Iran border into a ‘commercial gateway’ to strengthen trade ties. He also suggested expanding border markets, opening new crossing points, and establishing Customs Facilitation Desks to facilitate smoother trade.

Additionally, he noted that Gwadar and Chabahar ports hold enormous potential for joint use, as both are strategically positioned on key international trade routes that provide connectivity to Central Asia, the Middle East, Africa, and Europe.

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The Iranian envoy further stressed the need to remove bureaucratic bottlenecks on both sides and develop an efficient mechanism, including banking channels, to foster economic growth. He also suggested that the business communities of both countries should meet to establish a framework for joint ventures, as Iran has successfully done with Turkey.

On this occasion, Ambassador Moghaddam handed over an invitation from the President of Tehran Chamber of Commerce and Industry to ICCI President  to visit Tehran.

ICCI President warmly welcomed the distinguished guest and highlighted that Pakistan is implementing a coordinated roadmap to increase foreign investment and is offering attractive opportunities for international investors.

He emphasized that cooperation between Pakistan and Iran should be expanded across all sectors to enable both countries to benefit from each other’s experiences and capabilities.

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Qureshi pointed out that international pressures, regional instability, and security challenges have hindered business interactions between the two countries. However, he expressed confidence that both nations’ resilient and determined business communities are capable of overcoming these obstacles. He emphasized the shared historical, cultural, and industrial strengths of Pakistan and Iran, which can be leveraged to deepen their mutual ties.

He proposed that Iran could export its oil through Pakistan and both countries could also collaborate on pharmaceuticals and agricultural goods through joint ventures, benefiting both economies. Furthermore, Qureshi suggested that the frequent exchange of trade and cultural delegations, along with B2B meetings, would bring the business communities of the two countries closer together.

He also invited Iranian businesses to attend a trade exhibition that ICCI plans to organize in the middle of next year, offering an opportunity to showcase products and explore new business opportunities.

Senior Vice President Abdul Rehman Siddiqui emphasized the need to formalize informal trade through collaborative efforts, reiterating the strong willingness of both business communities to work together for mutual benefits.

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The Iranian delegation included Ms. Zahra and Mr. Shahbazi, Commercial Counsellors. Those present from ICCI included Vice Presidents Nasir Mehmood Chaudhry, Qazi Mohammad Ilyas, Waseem Chaudhry, Naeem Siddiqui, and ICCI Secretary General Ghulam Murtaza.