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Opening banking channels: Talks with Iran at advanced stage

FAISALABAD: Pakistan’s Ambassador to Iran Asif Khan Durrani has said that enhanced connectivity and banking channels between Pakistan and Iran are imperative to fully exploit the post-sanction opportunities.

In this connection, negotiations are already at an advanced stage and positive news is expected within a month’s time, he says.

Addressing business community at the Faisalabad Chamber of Commerce and Industry (FCCI) on Wednesday, he said Pakistan and Iran were enjoying good diplomatic relations but due to different reasons they had not fully exploited the economic potential. Iran has surplus energy while Pakistan is an energy-starved country. Similarly, Iran is facing food shortage while Pakistan can export rice and other eatable commodities.

He noted that unavailability of banking channels was a major obstacle to the promotion of trade between the two countries. He asked both the countries to focus on the promotion of formal trade and expected a positive breakthrough very soon. The ambassador said the State Bank of Pakistan had issued an SRO, allowing commercial banks to open branches in Iran, but they were reluctant to do business in dollars.

“The Trade Development Authority of Pakistan (TDAP) is organising the Aali Shaan Pakistan Exhibition in Tehran from March 4 to 7, 2017. It will play a major role in opening new avenues of trade between the two countries.”

He urged textile exporters of Faisalabad to actively participate in the exhibition.

Courtesy : Express Tribune

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