Pakistan, Iran aim to boost trade to US $ 5 billion

28 March 2016 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

REUTERS:  Pakistan and Iran aim to increase annual trade volumes between the two countries to US $ 5 billion by 2021, Pakistani Prime Minister Nawaz Sharif said on Saturday.
Sharif spoke at a business conference with Iranian President Hassan Rouhani, who arrived in Islamabad on Friday for two-day talks focused on increasing Pakistan’s electricity imports from Iran, boosting trade relations and reviving plans for a gas pipeline between the two countries.
“In the five years strategic action plan signed yesterday we have aimed at boosting our bilateral trade to the level of US Dollars five billion by 2021,” Sharif said.


“More land routes for trade on our border, trade exhibitions, industrial and agricultural cooperation and mutual recognition of standards will boost trade.”
Trade between Pakistan and Iran fell to US $ 432 million in 2010-11 from US $ 1.32 billion in 2008-09, according to the Trade Development Authority of Pakistan, after western powers imposed sanctions on Tehran aimed at halting a nuclear programme they suspected was aimed at developing a nuclear bomb.


Most of the sanctions were lifted in January in return for Iran complying with a deal to curb its nuclear ambitions.
“Iran has the capability to help the development of the economic infrastructure of Pakistan including roads, railways dams and others area,” Rouhani said in his speech at the Pakistan-Iran Business Forum.


Iran currently exports around 100 megawatts (MW) of electricity to the areas of Pakistan that border Iran. Pakistan is in the final stages of negotiating a deal that will increase that to 1,000 MW, the ministry of water and power has said previously.
Energy-starved Pakistan suffers about 12 hours of power cuts per day and is keen to import Iranian oil, gas, iron and steel.

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




“Workers who fainted had water sprinkled on their faces and had to work again”

Health authorities believe the first reported Covid-19 infected worker from t

“Social media ruined us” - husband of Minuwangoda Brandix factory worker

The Minuwangoda Brandix factory worker who first tested positive for Covid-19

Last rites far from home

The body of the Sri Lankan migrant worker Bandu who died of coronavirus in Du

Doctors blame newborn for gash on her face

A baby born on September 21 at the Wathupitiwala Base Hospital in Gampaha has

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.