KARACHI: An Iranian delegation on Tuesday visited the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) office in Karachi, where they discussed bilateral trade and cooperation between the strategic ports of Chabahar and Gwadar, the FPCCI said.
The delegation, led by the deputy governor of Iran’s Sistan-Baluchestan province, included Chabahar Free Zone CEO Mohammad Saeed Arbabi and other senior officials, according to the FPCCI.
FPCCI officials urged direct contacts and effective mechanisms for barter trade as the two sides discussed trade cooperation and investment in logistics, meat, transportation, maritime, rice and other sectors.
“Gwadar and Chabahar ports can be used to assist each other to make the entire region a major transit hub for global trade,” FPCCI vice president Nasir Khan said.
Pakistan and Iran plan to raise their bilateral trade to $10 billion from the existing around $3 billion, with both sides last year signing 12 agreements and memorandums of understanding for cooperation in diverse fields.
Asif Sakhi, another senior FPCCI official, underscored the importance of agricultural and food sectors.
“Pakistan possesses an immense, untapped capacity to meet Iran’s growing food security needs,” he said.
“Our premium rice and halal meat sectors are fully equipped to capture a massive share of the Iranian market. To realize this, we urge authorities on both sides to drastically simplify customs procedures, modernize border management and ensure uninterrupted cold-chain logistics.”
Following their extensive policy discussions, the FPCCI said its leadership projected that scaling the bilateral trade volume to $10 billion within the next few years is “highly achievable through strategic alignment and the resolution of technical barriers to trade.”
Late Last month, Islamabad also cleared the way for Iran to import goods from third countries through Pakistani territory by opening new transit routes, the Pakistani commerce ministry said.
The development came amid Pakistan’s efforts to enhance regional trade as Islamabad seeks to stabilize its economy. If followed an announcement by Pakistan’s Directorate General of Transit Trade (DGTT) that it had operationalized a new transit corridor via Iran by dispatching its first export shipment to Uzbekistan.
