Pak-Iran banking MoU awaits final approval

ISLAMABAD: The federal cabinet will give final approval to the MoU regarding resumption of Pak-Iran banking relationship, which will create a business-friendly environment for the two countries, said Commerce Minister Khurram Dastgir Khan.



“The Economic Coordination Committee of the cabinet has already approved the MoU between central banks of Iran and Pakistan,” Khan told IRNA in an interview.

He said that under the agreement Pakistan and Iran will create a bilateral mechanism, according to which both countries will pay their traders on their own.

“By the end of September we will have a proper banking relationship. I am very hopeful that it would give an immediate boost to trade between the two countries.”



Khan revealed that Iran and Pakistan have also agreed to materialise the proposed Free Trade Agreement and expressed belief that these developments would have a positive impact on the upcoming meeting of the Joint Economic Commission.

Published in The Express Tribune, September 2^nd, 2016.

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