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Legal Matters

Iran nonoil exports to Pakistan breaks record

Islamabad, Despite lack of banking channel, Iran's nonoil exports to Pakistan have increased by around 36 percent in past Iranian year of 1397 (ended March 20, 2019), breaking all the records.

According to the figures of Iranian embassy in Islamabad, trade between Iran and Pakistan has witnessed a considerable growth.

During the year 1397, Iran exported products worth US $ 1.247 to Pakistan.

Despite lack of banking channel, customs and tariffs issue the trade between Iran and Pakistan has been increasing. The embassy says trade between Iran and Pakistan has seen an increase of US $ 917 million.

According to the latest facts and figures Pakistan is the third most favorite destination of Iranian exports.

The imports from Pakistan saw a decrease of 16 percent and stood at US $ 330 million.

Leaders of Iran and Pakistan have already agreed to enhance the bilateral trade volume to US $5 billion in the next five years.

Source: Islamic Republic News Agency IRNA