Pak-Iran Joint Economic Commission reactivation must to get benefit of border points’ opening

By: News Desk      Published: 08:35 PM, 24 Apr, 2021
Pak-Iran Joint Economic Commission reactivation must to get benefit of border points’ opening

The Federation of Pakistan Chambers of Commerce and Industry’s ruling group has called for reactivation of the Pak-Iran Joint Economic Commission to get the real benefit of border point’s opening, exploiting the full potential to achieve a $5 billion annual bilateral trade target between the two countries.

Pakistan and Iran have several times agreed to enhance their trade relations and improve rail connectivity to achieve a target of $5 billion annual bilateral trade through the platform of the Pak-Iran Joint Economic Commission. But unfortunately, this Commission has been inactive and did not hold its meetings on regular basis. So, the serious working of the Joint Economic Commission along with the opening of Pakistan and Iran’s multiple borders’ points will steer trade avenues between the two Muslim countries in real terms, observed FPCCI’s ruling party BMP Chairman Mian Anjum Nisar.

He said the volume of two-way trade between Pakistan and Iran is negligible and mutual trade does not match the respective potential. The opening of the Pak-Iran border new crossing at Pashin Mand point adjacent to Ketch Turbat district is a historic step, especially for the people of Balochistan, which would further strengthen and deepen bilateral cooperation in terms of trade with Pakistan, observed FPCCI former chief.

“Through this step, the exporters of both the countries would be able to get direct access to the consumers of each other’s countries border markets,” he said.

Mian Anjum said various decisions regarding the expansion of trade and economic relations between Pakistan and Iran have been taken up previously. Unfortunately, due to the unstable and unpredictable international and regional political processes, nothing has been practical. The BMP leader reiterated the need for developing and deepening bilateral relations in various fields, including economic relations and trade, as well as the development and strengthening of border markets.

In a reference to unimplemented agreements signed by the two countries in the past, including the Iran-Pakistan gas pipeline agreement, he called for implementing and operationalizing those accords, especially expanding mutually beneficial economic cooperation and development.

Categories : Business