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Iran wants barter trade with Pakistan

Chakar The Great

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LAHORE:

Iran wants stronger trade and economic ties with Pakistan, therefore, barter trade should be encouraged as it will be equally beneficial for both the countries.


These views were expressed by Iran Consul General Reza Nazeri while addressing business community at the Lahore Chamber of Commerce and Industry (LCCI) on Friday.

The consul general highlighted that Pakistan and Iran shared common borders and cultural bonds and Iran had always tried to strengthen bilateral relations with neighbouring countries. “Pakistan is its first preference in this regard.”

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He extended full support of the Iranian consulate to prospective trade delegations, adding Iran would organise an exhibition of its products in Punjab.

“Oil, chemical, gas and other sectors of the economy should be focused for mutual trade,” he emphasised. “Pakistan has a distinguished status in milk production and Iran’s experience in dairy sector can be beneficial in this regard.”

He pointed out that Iran had a massive construction potential and could cooperate with Pakistan in that area. He underlined that both countries should join hands for the promotion of tourism as the two had an immense potential in that sector.

Answering a query, Nazeri lamented that lack of banking channels between the two countries was quite troublesome. “Last year, Iran signed an agreement with the previous Pakistan government in this regard,” he recalled. “I will contact the current Punjab government to reactivate this agreement.”

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Speaking on the occasion, LCCI President Almas Hyder pointed out that over the years, the chamber and Iran consulate had worked hand in hand. He appreciated efforts of the Iranian consul general in aiding the ease of doing business through frequent direct flights between the two countries.

“Both the countries have huge domestic markets and a unique geostrategic competitive advantage,” he emphasised. “In order to utilise each other’s strength, Pakistan and Iran will have to work jointly.”

Hyder recalled his visit to Iran at the head of a business delegation in 2016 and said a great potential existed for Pakistani products in Iran.
 
Positive move! We need a better foreign and economic policies that will allow us to do business with friendly countries.
 
Pakistan really should look into joining the facility being prepared by EU nations to trade with Iran outside of the dollar controlled financial markets. The facilities are being designed that the US Govt or its banks have no window into which country or company within the EU is trading with Iran for goods and services as a way to circumvent possible retaliation by the US Govt.
This not only will cement the EU and possibly Yuan down the line as major currencies of exchange, it will also be a boon countries like Pakistan will be able to trade with its neighbours with the ire of Washington with plausible deniability.
We really need to start trading with Iran as oil prices are only going to go up and impact our trade deficit negatively.
 
Isnt it good option to trade with iran and avoid sanctions
 
Country which is scared of US and never buys a drop of oil, isn't going to have any sensible barter trade really.
 

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