Iran on Saturday expressed interest in participating in China-Pakistan Economic Corridor (CPEC) framework as the $60 billion worth of Chinese-funded projects entered into next phase of industrial and agriculture cooperation.
Iran’s Commercial Attache to Pakistan Morad Nemati Zargaran said CPEC is essential and opens up huge opportunities for Pakistan and Iran.
“Iran wants to become part of this project which would surely ensure prosperity in the entire region,” Zargaran said at a meeting with businessmen.
He was a leading an Iranian delegation’s visit to Karachi Chamber of Commerce and Industry (KCCI). CPEC framework started infrastructure projects – power generation and road networks – in Pakistan five years back, connecting its western province to Arabian seas as a part of Belt and Road initiative.
Iranian envoy said business communities of the two countries have to meet more frequently and improve their contacts, besides holding single country exhibitions which would certainly improve bilateral trade and investment.
Zargaran assured his full support and cooperation to the business community so that trade could improve further and they collectively explore new avenues of trade cooperation.
The attaché said steps have to be taken to deal with the barriers hindering smooth trade between the two countries. High customs duties need to be brought down to encourage legal trade and discourage smuggling, he said.
“Formal banking channel between the two countries has to be activated which is widely being demanded by the business communities of the two countries since quite some time now.”
Vice President KCCI Shahid Ismail said bilateral trade remains low and Pakistan and Iran must make collective efforts to explore new avenues.