Mar 13, 2021, 1:48 PM
Journalist ID: 2053
News Code: 84262148
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Iran, Pakistan explore ways to resolve financial, banking issues

Islamabad, March 13, IRNA -- Iranian Deputy Minister of Economic and Finance Affairs Hassan Abghari on Saturday called for expansion of economic cooperation with Pakistan, saying that both countries have found some ways to address financial and banking issues.

Abghari, also the Managing Director, Iran Foreign Investment Company (IFIC) said in an exclusive interview with IRNA that fortunately, relations between the two countries in Prime Minister Imran Khan's government are at a very good level.

He said: The Islamic Republic of Iran and Pakistan have formed a Joint Investment Company in which 50% of the shares belong to the Iranian government and the other 50% belong to the Pakistani side, and fortunately this company is in a good position to work with the financial and credit institutions.

Abghari added the main discussion between the governments of Iran and Pakistan is the expansion of trade between the two countries, especially border relations, an issue that was followed up in a meeting with the Minister of Finance and Revenue of Pakistan yesterday.

He said that new specialized committee has been set up to solve financial and banking problems between Iran and Pakistan.

He described Pakistan Iran Investment Company as a new step to help boost trade between the two neighbors, saying in this way, we are pursuing issues related to cross-border trade and the problems of contractors, and we are very hopeful that the issues will be resolved.

Referring to the new situation the countries are facing due to the outbreak of the corona over the past year, the Deputy Minister said after the Covid-19 phenomenon, most countries focused on localization of trade and regionalization.

Abghari said: We consider these conditions as an opportunity for Iran and Pakistan to improve the previous level of trade relations and we are determined to move forward so that we can resolve some issues related to financial and banking ties.

Earlier, Abghari met with Pakistan’s Minister of Finance and Revenue Dr. Abdul Hafeez Shaikh.

According to an official statement both sides exchanged views on matters of common interests and reiterated resolve to promote economic and trade relations by building upon historical ties, geographical proximity and cultural affinities.

The Pakistani Finance Minister emphasized to find ways for furthering trade relations. “Pakistan-Iran Investment Company can play a pivotal role in strengthening trade and investment,” he added.

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