Iran and Pakistan sign banking cooperation agreement

Iran and Pakistan sign banking cooperation agreement

Iran and Pakistan sign banking cooperation agreement. Trade between the two countries is free. Announcing the signing of a banking cooperation agreement between the two countries, Pakistani Minister of Commerce Khorramdastgir Khan said: “Free trade will be established between the two countries, according to which 80% of imports and exports between the two countries will be done with special customs observance and discount.”

Pakistani Minister of Commerce Khorramdastgir Khan, in a media conference announcing that the volume of trade between Islamabad and Tehran is increasing, announced the signing of a banking cooperation agreement between the two countries, the Central Bank reported. Pakistan and Iran have signed an agreement on bilateral cooperation that will increase trade volume and strengthen trade relations between Islamabad and Tehran.

Dastgir Khan emphasized: Pakistan had historical and cultural relations with Iran in the past and now the two countries are becoming trade partners.

While confirming Khorramdastgir Khan’s talks, the Iranian Ambassador to Pakistan, Mahdi Hornost, who was present at the press conference, emphasized that the inseparable relations between the two countries are strengthening in all fields. The implementation of the gas and electricity export project to Pakistan is being completed rapidly. .

Pakistan and Iran recently entered into negotiations to pave the way for free trade, and it was agreed that we would soon see trade agreements and banking transparency between the two countries. Islamabad sent its proposals for free trade to Tehran on June 10, and after Received a positive response Negotiations to facilitate the expansion of trade relations. After the visit of Iranian President Hassan Rouhani to Pakistan in March and the signing of agreements on the expansion of strategic relations for 5 years to pursue the issue of free trade between the two countries. Began.

According to Pakistani officials, although international sanctions on Iran have ended but the expansion of trade relations between the two countries is slow, Islamabad and Tehran are determined to trade freely with each other. According to the free trade agreement between the two countries, 80% of imports and exports between The two countries will be subject to special customs discounts and discounts. Currently, 18% of imports and exports between the two countries include customs discounts, of which 338 are Iranian goods and 309 are Pakistani goods.

The volume of trade between Pakistan and Iran will reach more than $ 5 billion in the next 5 years, so the two countries will have to agree on bank clearance and negotiations are ongoing. Most of the trade volume between Iran and Pakistan, including fruit, It is vegetables, nuts and rice.