Iran expects robust trade and economic ties

Consul general says both govts working on solutions to financial transactions

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LAHORE:

Acting Iranian Consul General Ali Asghar Yeckdeleh has voiced hope that trade and economic ties with Pakistan will become stronger in the near future.

Speaking at the Lahore Chamber of Commerce and Industry (LCCI), the consul general said that the Iranian Consulate had maintained excellent relations with the Lahore Chamber and the collaboration would continue.

"Our consulate has always supported the business community, especially by facilitating the issuance of visas. Strengthening ties with Punjab and Lahore remains a priority and we are committed to playing an active role in this regard," he said.

Both governments were working on finding solutions to financial transactions and other issues, he pointed out and invited the LCCI leadership to participate in Iran's National Day celebrations on February 11.

Sharing his views on the occasion, LCCI President Mian Abuzar Shad remarked, "Iran is a brotherly neighbour and we deeply value the strong trade and diplomatic relationship. Our aim is to transform these ties into robust trade and economic partnerships."

Acknowledging the Iranian Consulate's consistent support, he said that the consul general had always maintained close connection with the LCCI, especially by accepting the chamber's recommendations for visa issuance.

Discussing the potential for enhancing trade, Shad said that Iran was an important trade partner and the issuance of SRO 642 by Pakistan's government on June 1, 2023 provided a framework for initiating business-to-business (B2B) barter trade.

"It is now the joint responsibility of the two governments, chambers of commerce and commercial sections to maximise this opportunity."

He proposed that Iran could import Pakistani products such as rice, meat, textile, fruits, vegetables and pharmaceuticals while Pakistan could benefit from Iranian petroleum products and industrial raw material.