Pakistan makes an offer to Iran

ISLAMABAD — Pakistan has invited Iran for talks on a free trade agreement(FTA).

Pakistan has proposed that talks could be held on April 23-24 in Pakistan.The report added that lack of direct banking channel between the twocountries is the main hurdle in finalizing the free trade agreement.

The two countries had agreed on signing the FTA during the visit of IranianPresident Hassan Rouhani to Islamabad in March 2016.

Recently embassy of Iran in Pakistan has stated that Iran’s exports toPakistan have increased by around 38 percent during 11 months of pastIranian year 1397 which ended on March 20, 2019.

In the past year Iran exported products worth US $ 1.128 to Pakistan. Thereis also 28 percent increase in the weight of the exported items which stoodat 2489 tons.

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According to the latest facts and figures Pakistan is the eighth mostfavorite destination of Iranian exports, while China is on top of the listwith Iraq on second and the United Arab Emirates at third.

Leaders of Iran and Pakistan have already agreed to enhance the bilateraltrade volume to $5 billion in the next five years.