Pakistan - Iran Free Trade Agreement on cards

Pakistan - Iran Free Trade Agreement on cards

ISLAMABAD (APP): Minister of Commerce, Engr. Khurram Dastgir Khan on Tuesday said the Free Trade Agreement (FTA) talks with Iran were likely to begin shortly as the FTA draft that Pakistan sent to Iran came back with willingness from Iran and will be pursued vigorously.

During a meeting with Mehdi Honardoost, Ambassador of Iran to Pakistan here, Khurram Dastgir Khan informed that it was also likely that Pakistani Cabinet would approve the re-establishment of Pakistan-Iran banking relationship that would boost bilateral trade significantly.

The minister also informed the ambassador that both the countries should work on easing the visa process for businessmen, besides agreeing on list of items to zero-rate each other in order to uplift trade between the two neighboring states.

The Iranian envoy appreciated the positive response of the minister and the two sides agreed to hold further meetings on different levels to give practical shape to various proposals discussed in meeting.

He said the two brotherly Islamic countries must focus on developing economic and trade ties as there were lots of grounds and avenues of cooperation in economic and trade spheres.

"Both the countries have larger population of young generation and enhancement of bilateral trade will help both the countries to create job opportunities for the youth", added the ambassador.

Mehdi also discussed the ways and means for further improving bilateral trade between the two countries.

"Both the countries must work on developing long-term economic and trade policies, initiate interaction between the Free Trade Zones and should have more exhibitions", suggested the ambassador.