ISLAMABAD: Islamic Republic of Iran and Pakistan on Friday signed a memorandum of understanding (MoU) to promote bilateral trade and investment between the two countries.
Iranian minister of Industry, Mining and Trade Reza Rahmani and Pakistan Prime Minister’s Advisor on Commerce, Textile, Industries and Production Abdul Razak Dawood signed the MoU at the conclusion of the 8th Joint Trade Committee (JTC) meeting in Islamabad.
During the two-day JTC meetings both sides had constructive discussions on strengthening of economic cooperation, barter trade and maritime cooperation.
Reza Rahmani talking to IRNA on the sidelines of the meeting said Iranian delegation had very useful discussions with Pakistani officials, including Prime Minister Imran Khan on promotion of bilateral trade.
He added that they also had constructive meeting with Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
He said that the two-day JTC meeting paved the way for promotion of bilateral and removal of hurdle in this regards.
Rahmani went on to say the MoU would help increase border cooperation between Iran and Pakistan to facilitate traders and making the private sector more effective.
He said that both countries have also agreed to enhance electricity and airline cooperation and the respective ministries will form a mechanism to implement such plan.
The minister said there is no limitation on Iran, Pakistan trade ties and urged the private sector of the two states to play their role in this regards.
Rahmani added that strengthening of ties with neighbors is main feature of Iran’s foreign policy.
Meanwhile, Iran showed interest in import of 5 lakh ton rice from Pakistan and asked the Pakistani side to devise necessary mechanism for early shipment. – NNI