“The business community fully supports efforts of the government to enhance trade with Iran,” Mian Zahid Hussain.
Pakistan Businessmen and Intellectuals Forum (PBIF) President Mian Zahid Hussain on Saturday called for enhanced trade among neighbouring countries, which is necessary for peace and prosperity in Pakistan.
“The business community fully supports efforts of the government to enhance trade with Iran,” he said.
“International trade is difficult in South Asia; therefore, it is less than 2% of their GDP, while it is easy in East Asia where international trade is over 20%.”
He said that Pakistan’s annual bilateral trade with Iran has remained below $1 billion, as the greatest fall of 84% was witnessed in 2013-14.
On the other hand, trade between India and Iran stands at $15 billion, while Iran-Iraq trade is $12 billion. Hussain said that Pakistan and India are important countries of Saarc but their trade is below $3 billion.
Published in The Express Tribune, April 26th, 2015.
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