LAHAORE (IRNA) -- Iranian companies will invest and initiate joint ventures with their Pakistani counterparts for the common interest of both countries, a senior Iranian diplomat said.

Consul General of the Islamic Republic of Iran, Saeed Kharrazi, held talks with Sabir P. Chohan, chief executive officer of Punjab Industrial Estates (PIE) on economic cooperation.
Mohammad Ali Ramzanne Jad from Iran Consulate General, Raza Tariq, Lahore and PIE marketing manager were also present in the meeting.
Kharrazi said that Sundar Industrial Estate (SIE), a PIE project, had become a role model in Pakistan which would not only help local industrialists, would also serve the whole Muslim world by accelerating industrial and business activities.
He appreciated the world class infrastructure maintained in SIE and informed that a trade delegation from Iran would soon visit Pakistan for promotion of trade and business between both countries.
Talking to the two-member delegation from the Iranian Consulate, the CEO of Punjab Industrial Estates, Sabir Chohan said that 26 factories had already started production in SIE and 70 factories had submitted their construction plans for approval, while 110 factories were at different stages of construction.