Consul General of Iran Hamid Reza Ghomi expressed the views while talking to Sarhad Chamber of Commerce and Industry (SCCI) President Hasnain Khurshid at the Chamber's House in northwestern city of Peshawar.
Welcoming the practical steps towards bringing the Iranian and Pakistani business institutions closer, especially the private sector, he said the Islamic Republic of Iran is designing a mechanism for free trade with Pakistan to strengthen economic relations between the two Islamic countries.
"If the policy based on the mechanism is implemented, the set mutual trade target 5 billion dollars between the two countries could be achieved easily," said Hamid Reza Ghomi.
The Iranian diplomat said both countries enjoyed cordial relations owing to common culture and religion. He said the option of barter trade was available to cement the mutual relationship between Iran and Pakistan.
The Iranian consul general suggested signing Memorandums of Understanding (MoUs) between the SCCI and Industries and Mines Ministry in Iran for joint initiatives to promote bilateral trade.
Earlier, the SCCI chief emphasized that joint efforts should be made to enlarge mutual trade and economic relations between Pakistan and Iran.
Hasnain Khurshid pointed out that it was getting difficult to achieve mutual trade targets due to lack of proper banking channels between the two countries.
An ambitious 5 billion dollars mutual trade target is being set between Pakistan and Iran, but 504 million dollars trade was carried out between the two countries last year, the SCCI chief pointed out.
However, he hoped the constitution mechanism for free trade would lead to the achievement of the afore-stated set by Pakistan-Iran mutual trade target.
He said the exchange of business delegations, joint exhibitions, signing of agreements between chambers and taking benefits from each other’s experiences and launching joint ventures would cement bilateral trade relations between Pakistan and Iran.
The SCCI chief stressed the need for early completion of Iran-Pakistan gas pipeline project.
Ghomi said a delegation led by Khyber Pakhtunkhwa Assembly Speaker Mushtaq Ghani would soon visit Iran.
He suggested to the SCCI chief to become part of the delegation as that would ensure the representation of the business community.
The Iranian diplomat agreed to the proposals made by the SCCI president and other participants.
He said the SCCI should get practical and sign an agreement with Iran's Mashad Chamber Commerce, assuring his full assistance in this regard at every level.
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