May 03: The Express Tribune report by Shahram Haq states that ambassador of Iran to Pakistan Mehdi Honardoost said the establishment of banking channels and currency swap agreements with Pakistan is in process, and the business community should be able to hear the “good news” soon enough. Currently, bilateral trade between the two countries is hindered by the absence of banking channels in the wake of US sanctions on Iran. However, some of those sanctions were lifted in early 2016 after Iran agreed to roll back its nuclear weapons programme, paving way for trade with the country. Pakistan, Iran’s neighbor, is now looking to establish ways to boost bilateral trade even as doubts remain whether sanctions would continue to be in place.
The Express Tribune: Currency swap agreement with Pakistan about to materialize: Iranian envoy
