Iran hopeful IP pipeline will boost joint ventures

Outgoing Iran’s consul general asks Pakistan to join hands with Tehran.

KARACHI: The outgoing Consul General of Iran to Pakistan Abbas Ali Abdollahi hopes that the Iran-Pakistan (IP) gas pipeline will go a long way in promoting new investment opportunities and increase in mutual trade volume between both countries.

Speaking at a farewell reception hosted by Tariq Sayeed, chairman of the Pak-Iran Business Council, the envoy disclosed that Iran had already laid 1,200-kilometre pipeline from Bunder Abbas to the Balochistan border; however, Pakistan had yet to implement the project in its area.

He said that the Iran Melli Bank and the National Bank of Pakistan should establish branches in Pakistan and Iran respectively. He offered to supply cheaper electricity to Pakistan. He proposed that Pakistani investors and exporters should hold exhibitions at Zahidan, Iran and other parts of the Iran, for which Iranian government will extend full support and cooperation.

The consul general said he did his best to bring the two countries closer. He added that Pakistan and Iran possess a rich common culture which can be exploited for increase in business relations for creation of employment opportunities.

In his speech, Sayeed underscored the need to remove non-tariff barriers, reduction in tariff rates, explore and exploit huge trading potential between the two bordering neighbour countries and formation of Pakistan-Iran joint business chamber to tap investment opportunities together.

Published in The Express Tribune, November 28^th, 2012.