Islamabad: Federal Minister for Board of Investment, Qaiser Ahmed Sheikh, convened with an Iranian business delegation to discuss potential enhancements in bilateral trade and investment cooperation. The meeting aimed at exploring economic collaboration avenues between Pakistan and Iran, focusing on strengthening ties and identifying joint investment opportunities.

According to Press Information Department, the Iranian delegation was led by Mohammad Reza Chafarallahi, Chairman of Trade Facilitation & Development, and included representatives from the Chambers of Commerce of Kerman and Tehran. Senior officials from Pakistan’s Board of Investment, including Director General Mehmood Tufail, participated in the discussions.

The dialogue underscored the longstanding historical and cultural connections between the two nations, with Minister Sheikh emphasizing the untapped economic potential between the countries. The Iranian representatives highlighted Kerman province’s economic significance and proposed a strategic trade corridor linking Karachi to Chabahar, which was acknowledged as a promising venture to expand regional trade routes.

Additionally, the discussions touched upon the growing trade relationship, with Pakistan’s export increase to Iran noted. There was a particular focus on the rice trade, where Pakistan’s share in Iran’s imports has seen a significant rise. Joint ventures in sectors like rice processing, petrochemicals, and engineering services were identified as potential areas for collaboration.

Challenges, such as banking sanctions, were addressed with suggestions for barter trade mechanisms to facilitate commerce. The meeting concluded with mutual commitments to enhance business linkages and explore further cooperation opportunities, with plans for a Pakistani delegation visit to Iran in the pipeline.