KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee on Horticulture and Agriculture Produce Chairman Ahmad Jawad has said Pakistan and Iran should take concrete steps to facilitate trade and take advantage of being strategic neighbours.
Talking to Commercial Attaché of the Embassy of Iran Mostafa Razavi Zadeh, Jawad said the FPCCI places great importance to Iran and its business community. “We have immense potential to increase trade volumes between the two countries,” said Jawad. “It’s time trade barriers are removed, so that collectively we can become a strong economic bloc in the region.” For this, both sides may implement a preferential trade agreement (PTA) in letter and spirit which was signed in 2006, said Jawad.
According to the PTA, Iran was given tariff concessions on 309 tariff lines while Pakistan was offered concessions on 338. Major sectors covered under the PTA were rice, fruits, cotton, cotton yarn, pharmaceutical products and cutlery.
“We understand that some confusion is still there which hampers bilateral trade, but we should also understand that the Pak Iran Gas Pipeline project and trade issues are two different subjects,” said Jawad.
Meanwhile, Mostafa appreciated the vision and said FPCCI’s involvement in this issue will definitely help overcome trade barriers. “Pakistan has a rich potential in agriculture products and we are keen to trade in it, but unavailability of banking channels was a major hurdle.”
