Dec 16, 2019, 3:11 PM
Journalist ID: 2053
News Code: 83596632
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Iran-Pakistan border trade reaches nearly $1 billion: Pak trade activist

Islamabad, Dec 16, IRNA -- President of Iran-Pakistan Federation of Culture and Trade, Khawaja Habib ur Rehman said on Monday that Iran-Pakistan border trade has reached about US $1 billion which is a big achievement, local media reported.

During a meeting with the delegation of Tehran Chamber of Commerce, Industries, Mines and Agriculture led by its President Masoud Khansari in Lahore he said that trade between the two countries would further improve and touch the volume of US $ 5 billion in coming days.

He added that Iran and Pakistan in order to promote border trade have to do business in local currencies and improve border mechanism.

The trade activist expressing his views said cooperation between Chabahar and Gwadar ports is vital to strengthen Iran, Pakistan trade ties.

Khawaja Habib ur Rehman went on to say that lack of banking channel between the two states is a major hurdle in promotion of bilateral trade ties.

He stressed upon the need for early completion of Iran-Pakistan (IP) gas pipeline which would help Pakistan to overcome its energy woes.

He said Iran and Pakistan should complete the border markets as early as possible for the benefit of the local traders on both sides.

Khawaja Habib ur Rehman further said that Iran and Pakistan through their close cooperation can change the fate of the region.

Earlier Prime Minister of Pakistan Imran Khan had directed the ministry of commerce to expedite the process of setting up border markets with Iran.

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