Bilateral trade: LCCI chief urges check on smuggled goods

President Basit said the CPEC project is underway and the demand for petroleum products would rise

ISLAMABAD: President of Lahore Chamber of Commerce and Industry (LCCI) Abdul Basit said that restriction on illegal trade would give considerable boost to trade relations between Iran and Pakistan. In an Interview with IRNA, he said that illegal trade should be treated with an iron hand since it was damaging local industries and causing huge loss to tax revenues of the two countries.

He said that there was great scope for Iranian companies to consider Pakistan for either exporting petroleum products or setting up oil refineries in collaboration with their Pakistani counterparts.

The LCCI president said the China-Pakistan Economic Corridor (CPEC) project was well underway and it was expected that the demand for petroleum products would rise.

He said that Iran had already shown interest to get actively involved in the CPEC projects so any Iranian company would be facilitated on priority by departments concerned.

Published in The Express Tribune, November 8^th, 2016.

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