ISLAMABAD: Pakistan and Iran are all set to explore the possibility for enhancing trade relations, resolving technical and penalty-related issues with regard to the Pak-Iran Gas Pipeline Project, and moving towards currency swaps in order to boost bilateral economic ties.
Another area of interest between the two countries will be enhancing cultural, historical and religious tourism. “Barter trade, currency swaps between the central banks and Iran-Pakistan Gas Pipeline are the potential areas in which the two countries can proceed further in months and years ahead,” top official sources confirmed while talking to The News on Monday.
Following the recent visit of Chief of Army Staff (COAS) Gen Asim Munir to Iran, both countries are moving towards establishing the required mechanism in different areas to boost economic ties.
In the wake of economic sanctions imposed by the USA against Iran, Pakistan and Iran will have to find out solutions to establish trade and economic linkages by exploring all available avenues, including barter trade and currency swaps. It is yet to be seen how quickly both countries will be able to proceed further towards cementing trade and economic ties.
According to official announcement made by the Ministry of Finance on Monday, Iranian Ambassador to Pakistan Reza Amiri Moghaddam called on Federal Minister for Finance Senator Mohammad Ishaq Dar at the Finance Division.
Dar warmly welcomed the ambassador and felicitated him on assuming the charge. He also extended blessings to the Iranian leadership and people on the start of new Islamic year. The finance minister highlighted the deep-rooted historical relations between Pakistan and Iran based on age-old commonalities.
Amiri also reciprocated the historical relations between the two countries and stressed the potential held by both countries for mutual cooperation.
He appreciated the cooperation and support of the present government in enhancing bilateral relations in trade and economic fields.
The two sides discussed in detail various fields for mutual cooperation, including trade, investment and security between the two countries.
They discussed enhancing trade relations by activating the recently-inaugurated border markets and opening of three more border markets between the two countries in order to achieve the optimal trade volume through the border trade mechanism and removing technical hurdles in enhancing trade relations between the two countries.
Collaboration in the banking sector between the two countries also came under discussion. The heads of central banks of two countries would meet next week in Pakistan to discuss and sort out the issues related to banking cooperation.
The finance minister and the ambassador appreciated the decisions of Joint Economic Ministerial Commission, which convened after 5 years, and stressed fast-track implementation of actions to enhance bilateral trade and economic ties between the two countries.
The two sides also discussed the Iran-Pakistan Gas Pipeline and stressed the need for resolving the technical hurdles for the benefit of both the countries. The two sides also lauded the mutual support and cooperation for each other on international forums. Finance Minister Senator Ishaq Dar extended his support and cooperation to the ambassador of Iran during his tenure in Pakistan.
US is Taipei’s key partner and provider of weapons despite having no official diplomatic ties with Taiwan
Trump, 78, refuses to accept his defeat in 2020 and is expected to reject result if he loses again
Fresh off a historic Test series victory, Shan was asked, “How did you manage six losses in a row?”
Musk denied report on Sunday, saying he was allowed to legally work in US during that period
Sindalah is “spread over 840,000 square metres” and will be set to receive “up to 2,400 guests per day by...
This is one-time tax and is on minimum two kanals and 6,000 square feet of construction.
