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Iran seeks direct import of Pakistani textiles

19
Jul '12
Iran wants to import textile and clothing items directly from Pakistan, without the involvement of any third country, a statement of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) stated.
 
According to the statement, Consul General of Iran Abbas Ali Abdollahi said that unlike presently, when Pakistani textiles and apparel items reach Iran via third country, they wish that these items should directly be shipped to Iran.
 
During a recent meeting with FPCCI members, the Iranian Consul General said the two nations can boost their bilateral trade to up to US$ 10 billion. He said that though Iran trades with several countries, it is looking forward to enhance its mutual trade relations with Pakistan, the statement stated.
 
Mr. Abdollahi said the trade between the two countries has decreased drastically in recent times due to financial and banking sector sanctions imposed by Western countries.
 
While disclosing that Iranian consul offices have started issuing multiple visa of six months to Pakistani entrepreneurs, he stressed that the two nations should consider trading in their own currencies, rather than in any other currency.
 
FPCCI President Haji Fazal Kadir Sherani said that in spite of implementation of Preferential Trade Agreement (PTA) in 2006 between Iran and Pakistan, existing bilateral trade volumes between the two nations do not reflect the real potential of the two countries. 
 
Bilateral trade volume between Pakistan and Iran stood at about US$ 265 million in 2011.
 
Mr. Sherani stressed on inclusion of new items in the existing PTA, and also suggested that extent of concessions on some items already forming a part of the PTA should be raised.
 
He informed that the Iranian Government has promised US$ 330 million to Pakistan through the Friends of Democratic Pakistan initiative.
 

Fibre2fashion News Desk - India


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