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                                        Volume. 12138

Tehran, Islamabad discuss boosting trade to $5b
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Iranian Deputy Finance and Economic Affairs Minister Behrouz Alishiri (L) met with State Bank of Pakistan Governor Ashraf Mahmood Wathra in Tehran on Wednesday.
Iranian Deputy Finance and Economic Affairs Minister Behrouz Alishiri (L) met with State Bank of Pakistan Governor Ashraf Mahmood Wathra in Tehran on Wednesday.
TEHRAN – Iran and Pakistan have discussed boosting their annual trade to $5 billion from currently around $1 billion.
 
In a meeting in Tehran between Iranian Deputy Finance and Economic Affairs Minister Behrouz Alishiri and State Bank of Pakistan Governor Ashraf Mahmood Wathra, the two sides emphasized the need to expand cooperation in different areas of economy, the Mehr News Agency reported on Wednesday.
 
Pakistan was the 8th leading importer of Iranian goods in the previous Iranian calendar year, which ended on March 20, 2014, according to the Iranian Customs Administration.
 
Pakistan imported about $641.7 million worth of goods from Iran and exported about $320 million worth of goods to its western neighbor.
 
On May 12, Iranian Minister of Economic Affairs and Finance Ali Tayyeb-Nia stressed the need for the promotion of economic relations between Tehran and Islamabad. 
 
In April, Pakistani Commerce Minister Khurram Dastagir said trade between Iran and Pakistan could not rise to the potential level mainly due to the international trade embargo on Iran, its repeated ban on Pakistan goods, high duties, and ineffective financial mechanism.
 
Commerce Minister Khurram Dastagir stated that Pakistan was keen to increase trade with Iran and every possible step would be taken to remove the bottlenecks in that regard.

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