Trade With Iran: UBG welcomes lifting of sanctions
The gas pipeline between Pakistan and Iran will also be completed sooner now
KARACHI:
The United Business Group (UBG) welcomed the lifting of trade sanctions on Iran and hoped the move would lead to increased trade between Pakistan and Iran. “The gas pipeline between Pakistan and Iran will also be completed sooner now,” they said, adding that Pakistan and Iran could also trade officially and send and receive remittances directly. They hoped that soon both countries would be able to open bank branches for easy transactions. Following the removal of sanctions, Pakistan can increase its export of textile, leather and rice to Iran while Iran can increase export of oil and petro-based chemical to Pakistan, leading the trade volume to reach an estimate of $1.5 billion.
Published in The Express Tribune, January 19th, 2016.
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