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Iran, Pakistan call for enhancing trade to $5B

Business Materials 22 April 2015 16:26 (UTC +04:00)

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Baku, Azerbaijan, Apr.22

By Fatih Karimov - Trend:

Iran and Pakistan called for enhancing bilateral trade to $5 billion annually.

Iranian Economic Affairs and Finance minister Ali Tayebnia met with Pakistani Commerce Minister Khurram Dastgir Khan in Tehran, calling for a rise to bilateral trade from currently $1 billion to $5 billion, Iran's Mehr news agency reported on April 22.

"We see no restrictions to increase relations with Pakistan," Tayebnia said, adding that Iranian companies can boost technical and engineering exports to Pakistan.

Cooperation between the two neighboring countries can play a key role in securing peace and tranquility in the region, he added.

The Pakistani minister, for his part, said that the expansion of road and air transport ties and telecommunication networks should be prioritized.

Pakistan was the 8th leading importer of Iranian non-oil goods in the previous Iranian calendar year, which ended on March 20, 2015, according to the Iran Customs Administration.

Iran exported $945.77 million of non-oil goods to Pakistan and imported $263.22 million of non-oil goods from the country.

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