Its is essential to take steps to remove trade barriers between the two countries , Pakistan and Iran and to reduce the high customs duties to encourage legal trade and discourage smuggling, said Iran’s former commercial attaché in Pakistan Morad Nemati Zargaran.
They also called upon establishing banking channel between the two countries has to be activated, which was widely being demanded by the business communities of the two countries since quite some time now.
While referring to the China-Pakistan Economic Corridor (CPEC), Zargaran said that the project will open opportunities not just for Pakistan but also for Iran and if Tehran chooses to become part of this project, it would surely ensure prosperity in the entire region.
He also underscored that that the business communities of the two countries will have to meet more frequently and contacts, besides holding single country exhibitions which would improve bilateral trade and investment.
Zargaran assured full support and cooperation to the business community so that trade could improve further and they can collectively explore new avenues for trade cooperation.
He added that the State Bank of Pakistan has also shared draft of Memorandum of Understanding (MoU) for signing its Banking Paying Arrangement (BPA) with Iran’s Iranian Bank Markazi Jomhouri.
Both countries have already signed agreement through which channels would be opened in the central banks of both the countries for trade transactions that would reduce the usage of dollar account for Letter of Credit (LC) clearance.
