BAKU, Azerbaijan, Nov. 12
By Elnur Baghishov – Trend:
A joint bank can be established between Iran and Pakistan to facilitate the money transfers, Member of Iran-Pakistan Chamber of Commerce Mahmoud Tohidast told ILNA, Trend reports.
Tohidast also said that in this regard, the Central Bank of Iran and the State Bank of Pakistan must reach an agreement.
The official added that Iran's trade with Pakistan has been carried out traditionally for many years. At present, there are no money transfers between Iran and Pakistan.
“If banking relations are established between Iran and Pakistan, the trade turnover between both countries can increase,” he said.
The member of the chamber noted that although some projects to establish joint financial institutions between Iran and Pakistan have been put forward before, no practical steps have been taken in this direction so far.
Iran exported 1.25 million tons of goods worth $491 million to Pakistan during the first seven months of the current Iranian year (from March 20 through October 21, 2020).