Times of Islamabad

Pakistan and Iran ink key accord to achieve 5 billion target

Pakistan and Iran ink key accord to achieve 5 billion target

TEHRAN – Iran and Pakistan signed a memorandum of understanding (MoU) onroad transportation after two days of intense talks.

According to the Road Maintenance and Transportation Organization’s (RMTO)website, the talks stressed the growing trend of cooperation in theinternational road transportation between the two countries to supportsustainable economic growth.

Given the target set for increasing exchanges from one billion dollars tofive billion dollars, both sides underlined pursuing decisions made duringthe ninth meeting of Joint Iran-Pakistan Working Group.

The meeting was held in Islamabad in 2016.

Director General of RMTO’s Office for International Transit andTransportation Reza Nafisi who headed Iranian delegation stressed the needfor operationalizing TIR Convention (a multilateral treaty that wasconcluded at Geneva on 14 November 1975 to simplify and harmonize theadministrative formalities of international road transport) and CMRConvention.

Head of the Pakistani delegation Asghar Altafi, for his part, hailed Iran’scapabilities such as access to six Central Asian markets, saying thatPakistani tradesmen are interested in cooperation with the Iranian partners.