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General

Bright vision of Pakistan-Iran Investment Company to boost bilateral trade ties

 

Islamabad, IRNA — Managing Director of Pakistan-Iran Investment Company Limited (PAIR) has emphasized the need for both countries to know about the potential of each other’s market to achieve economic targets.

In an interview with IRNA on Saturday, Abbas Daneshvar Hakimi Meibodi said PAIR is a joint venture of Iran and Pakistan, formed under an agreement between the governments of the two states in 2007.

He said the company is based in the commercial city of Karachi in southern Pakistan and has a branch in Lahore, the capital of Punjab, which has been under the supervision of the State Bank of Pakistan for more than 14 years.

Daneshvar said so far, the main activity of this company is to provide financial facilities in the form of fixed capital and working capital to industrial and commercial units based in Pakistan, and recently it has provided consultation services to businessmen and investors from both countries.

Daneshvar Hakimi added the total population of the two countries is over 300 million people, which is equivalent to 60 percent of the population of the European Union, so there is a very good market for businessmen and investors of the two countries, which unfortunately for various reasons have been neglected.

He said we as the financial investment company of Iran and Pakistan are trying to play an acceptable role in boosting the business between the two countries and propose that the company should be made a member of the Joint Economic Commission of Iran and Pakistan.

In the end, the managing director of Pakistan-Iran Investment Company Limited expressed hope that by resolving the sanctions problems in the banking system, all existing potentials could be used to promote the development of trade between the two countries.

The next round of the Iran-Pakistan Joint Economic Commission is scheduled to be held in late December this year in Islamabad.

The 9th meeting of the Iran-Pakistan Joint Trade Committee was held in Tehran on November 6-7 during which both sides had agreed to increase the bilateral trade volume to $5 billion.

Adviser to Prime Minister of Pakistan for Commerce and Investment Abdul Razak Dawood led the Pakistani delegation in the meeting.

 

 

 

Source: Islamic Republic News Agency – IRNA

 


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