Iranian FM’s visit to Pakistan will promote regional economic integration, Mehr Kashif Younis

Shiite News: Federal Tax Ombudsman Coordinator Mehr Kashif Younis has said that the Iranian Foreign Minister’s visit to Pakistan will help regional economic integration, search for more opportunities for economic cooperation and promote trade relations.

Talking to a delegation of industrialists led by Shahid Nazir in Islamabad, he said that such high-level activities help in strengthening trade agreements and bilateral trade and economic relations.

He said that Pakistan and Iran have a long history of trade relations covering bilateral trade in various sectors like energy, agriculture and manufacturing.

He said that Iran is currently exporting 144 MW of electricity to Pakistan and it is expected to double after the completion of power projects in Pakistan, while Iran has the capacity to export 500 MW of electricity to Pakistan.

He said that according to the latest statistics, the annual trade between Iran and Pakistan reached about $2.4 billion as of March, of which Iran’s exports to Pakistan were about $1.8 billion.

Mehr Kashif Yunus said that both the countries should work on establishing more large border markets for free trade between the people living along the border while strict measures are also needed to eliminate smuggling along the entire border belt.