Report in Dawn, October 23rd, 2023
LAHORE: Iranian Ambassador Dr Reza Amiri Moghaddam has identified a lack of banking channel, behaviour of some bureaucrats both in Pakistan and Iran, and an international currency, as major hurdles to the promotion of trade between Tehran and Islamabad.
“Besides the currency problem, other issues that need immediate attention are establishing a formal banking channel, the main trade infrastructure, for business transactions between Pakistan and Iran, and bringing a change in the behaviour of the officialdom of the two countries,” Dr Moghaddam said at a reception here on Sunday.
“If these issues are resolved, bilateral trade may be increased to over $10 billion within no time from its present level of $2.4 billion,” he said, adding that the current trade figures exclude the energy sector and unofficial [smuggling] exchange of goods.
He argued that due to common borders, the transportation cost of goods between the two states would be the minimum and thus benefit the consumers across the borders, as Pakistan may meet 70 percent import needs of Iran, while the latter have products to fulfill 80pc import requirements of Pakistan.
The diplomat said that the currencies of other countries, like Chinese yuan, could also be introduced for the purpose and stressed that Tehran is much experienced in utilisation of currencies other than US dollar as its annual imports and exports are worth $100bn collectively.
Dr Moghaddam wondered why Pakistani businesses were reluctant to participate in trade exhibitions in Iran as a delegation though they would individually attend the event.
He told a questioner that those fanning turmoil in the two neighbouring states and creating hurdles to bilateral relations were a common threat to both countries.
Referring to 950-km joint borders, historical, religious, and cultural ties between Pakistan and Iran, he wondered why these facts could not warm up relations between the two peoples up to the potential.
The Iranian diplomat said his country considered that many states would be investing in the China-Pakistan Economic Corridor (CPEC) and these projects would definitely need energy, which could be provided by Iran at affordable rates.
Answering a query about the Gaza issue, the diplomat said that the Arab states must remember that Israel desired to expand its borders from the West Bank to the Euphrates, which meant engulfing the whole Arab peninsula, and must join their forces to counter this threat instead of establishing ties with the Zionist state.
https://www.dawn.com/news/1782935/irans-ambassador-lists-issues-marring-trade-with-pakistan
