Summary Pakistan and Iran discussed investment, barter trade, joint ventures and a proposed Karachi-Chabahar corridor to expand bilateral economic cooperation.
ISLAMABAD (Dunya News) - Federal Minister for the Board of Investment Qaiser Ahmed Sheikh held talks with an Iranian business delegation to explore ways to expand bilateral trade, investment and economic cooperation between the two neighbouring countries.
During the meeting, both sides emphasised identifying new joint investment opportunities and discussed a proposal for a Karachi-Chabahar trade corridor, expressing optimism that the initiative could significantly boost bilateral trade.
Qaiser Ahmed Sheikh said Pakistan and Iran enjoy longstanding brotherly relations and have substantial potential to enhance economic cooperation. He added that the Iranian delegation had expressed interest in increasing exports to Pakistan and expanding commercial collaboration.
The discussions also covered potential joint ventures in the rice, petrochemical and steel sectors. The minister noted that Iran imports around three million tonnes of rice annually and said Pakistan's share of the Iranian rice market had increased to 40pc.
Qaiser Ahmed Sheikh also proposed expanding barter trade, saying Pakistan's market of more than 250 million people offers attractive opportunities for investors.
Director General Mahmood Tufail welcomed the Iranian delegation and reaffirmed Pakistan's commitment to strengthening bilateral economic ties. The delegation also invited Qaiser Ahmed Sheikh to visit Iran.
