Iran consul general visits Karachi Chamber of Commerce

Iran consul general visits Karachi Chamber of Commerce and Industry where he also spoke.

Iran consul general visits

While speaking at a meeting during his visit to the KCCI, Ahmad Mohammadi emphasised to enhance bilateral trade.

Pakistan Iran trade

Notably, he suggested that business communities’ participation in numerous exhibitions in Iran or Pakistan would help increase trade.

However, he also noted that some difficulties, including lack of banking channels, are hindering smooth trade.

Iranian CG stressed the need to remove such impediments which hamper trade between the two brotherly countries.

Actual trade volume much higher

Although he acknowledged the official trade volume highlighted by President KCCI, yet he pointed the actual trade volume remains much higher.

Because, he added, a lot of indirect trade was also going on between the two countries because of lack of banking channel.

Iran consulate in Karachi

“We, at the Iranian Consulate, are very serious towards resolving all the issues so that the bilateral trade and economic relations could be strengthened.”

The consul general cited that almost two-and-a-half years ago, they organised Iran’s Solo Trade Exhibition in Karachi. He said that remained very successful, bringing the business communities more close to each other.

Hence, he called for more such exhibitions must take place either in Karachi or in Tehran or any other city of Iran.

Ahmad Mohammadi said that would surely pave way for much-improved trade ties.

Imran Khan visit to Iran

He referred to Prime Minister Imran Khan’s visits to Iran particularly his meeting with the Iranian President.

The Iranian consul general stated that both leaders had expressed their intention to further improve trade and economic tie.

Hence, he expressed hope that trade volume would  increase in the days to come.

Iran Chambers delegations visits

The diplomat informed KCCI members that the Iranian Consulate will receive two separate delegations in the near future from Iran Chamber of Commerce.

The Iranian CCI delegates will attend an event in Karachi on invitation of Islamic Chamber of Commerce & Industry. Another delegation from Tehran Chamber of Commerce will attend the Build Asia Exhibition.

The CG wants more delegations to come for negotiations with their Pakistani brothers to seek ways and means of how to improve bilateral relations.

KCCI has key role to play

While congratulating the new team at KCCI, the Iranian consul general hoped improvement during their tenure.

He hoped that KCCI would make efforts to improve trade relations with Iran by sending delegations. And also by participating in numerous exhibitions in Iran.

He highlighted good ties between Iranian Consulate and KCCI. He said he his colleagues firmly believe that KCCI remains their second home in Karachi.

Earlier, KCCI president Agha Shahab Ahmed Khan, welcomed the Iranian Consul General.

Agha Shahab welcome Iran CG

Despite being brotherly countries, trade remains low hence, Pakistan and Iran must make collective efforts to explore new avenues, he said.

Shahab underlined that KCCI try their best to promote bilateral trade.And the Chamber has a very positive approach towards improving trade ties particularly with neighboring countries.

He pointed out that the bilateral trade between Pakistan and Iran remains less than the potential.

Pakistan exports stood at a mere $330.2 million while the imports stood at around $1.247 billion during 2018.

Agha Shahab noted that the negotiations on Free Trade Agreement (FTA) underway.

PTA to FTA

Both the countries have shared their desire of upgrading Preferential Trade Agreement (PTA) into the FTA. For it initial drafts have already been shared.

While the State Bank of Pakistan has also shared draft of Memorandum of Understanding (MoU) for signing its Banking Paying Arrangement (BPA) with Central Bank of Iran.

Both countries have already signed MoU to open channels in the central banks of both the countries for trade transaction. That would reduce the usage of dollar account for Letter of Credit (LC) clearance.

He hoped that the desperately needed proper banking channel between Pakistan and Iran becomes a reality soon. That would surely boost the existing trade ties.

Potential for trdae

Furthermore, KCCI president noted abundant opportunities in the Iranian dairy, livestock, meat and the beverages sectors for Pakistan. While Pakistan can also take benefit from Iran’s petrochemical sector.

Agha Shahab underscored the need to sort out infrastructural constraints to enhance bilateral trade via the Quetta-Taftan land route.

Whereas the regular operation of ECO container trains will lend impetus to cargo and transit facilities between the two countries.

“We want to strengthen ties and establish a strong connection with the Tehran CCI by signing a MoU to improve cooperation.

KCCI also like to send a trade delegation to explore new avenues for enhancing trade and investment ties between the two brotherly countries.