Global Rice News

Iran’s ambassador to Pakistan, Reza Amiri Moghadam, has proposed the establishment of border markets between Iran and Pakistan, according to the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). Moghadam visited the FPCCI head office in Karachi and highlighted Iran’s status as a top producer of petrochemical and energy sources. He suggested that Pakistan could benefit from reliable and inexpensive energy supplies from Iran to bridge its energy deficiencies. Additionally, he emphasized the popularity of Pakistani rice and textiles in Iran.

Ambassador Moghadam expressed his desire to enhance people-to-people, business-to-business, and chamber-to-chamber contacts with Pakistan, with a focus on increasing business tourism. He offered the Iranian embassy’s assistance in facilitating visas for Pakistani businesspeople and their participation in trade exhibitions and fairs in Iran.

Irfan Iqbal Sheikh, the President of FPCCI, noted that increasing trade with Iran could help Pakistan address its chronic trade deficit. Sheikh highlighted the cost-effectiveness of exporting to Iran through a land-based route, which can reduce shipping and logistics costs. He also mentioned the lack of banking channels between the two countries as a major obstacle to boosting Pakistani exports to Iran, suggesting that a currency swap mechanism could be a solution.

FPCCI Vice President Shaukat Omerson identified several products and services that Pakistan could export to Iran in large quantities, including rice, fruits, vegetables, textiles, sports goods, surgical instruments, pharmaceuticals, and IT services. Omerson emphasized that the current bilateral trade of $2.4 billion was below the potential considering the combined population of over 300 million in the two countries. He urged the utilization of land-based transportation opportunities offered by Pakistan’s inclusion in the TIR convention, enabling transit trade to Central Asian countries, Turkey, and beyond.

Source: The News