Pakistan, Iran have potential to increase trade turnover: minister

Business Materials 20 November 2018 16:15 (UTC +04:00)

Baku, Azerbaijan, Nov.20

By Elnur Baghishov, Leman Zeynalova – Trend:

Pakistan intends to develop bilateral ties, especially trade relations with Iran, said Pakistan’s Finance Minister Asad Umar.

The two countries may increase the volume of bilateral trade, IRNA quoted the minister as saying to local media.

“Pakistan’s trade turnover with Iran has reached $1.5 billion and it is possible to increase this figure with various programs,” he said.

“Pakistan can increase trade turnover with neighboring countries, including Afghanistan, Iran, Saudi Arabia and China,” added Umar.

Earlier, Iran Consul General Reza Nazeri said that Iran wants stronger trade and economic ties with Pakistan, therefore, barter trade should be encouraged as it will be equally beneficial for both the countries.

"Pakistan and Iran have common borders and cultural bonds and Iran has always tried to strengthen the bilateral relations with its neighbouring countries and Pakistan is its first preference in this regard,” he added.

Nazeri noted that that Iranian Consulate would extend full support to the trade delegations.

He said that Iran has great potential in the field of construction and could cooperate with Pakistan in this field and added that both countries should join hands for promotion of tourism sector as Iran and Pakistan have immense potential in this sector.