Iran intends to work in close collaboration with Pakistan for economic development of the region. This was maintained by Governor of the largest province of Iran, Khorasan Razavi Dr Mahmoud Salahi while addressing the inaugural session of “Pakistan–Iran Investment & Trade Business Forum”, jointly organized by Punjab Board of Investment and Trade (PBIT) in collaboration with Lahore Chamber of Commerce & Industry (LCCI) where 60 government and private officials from Iran met with leading CEOs and government officials from Pakistan. Punjab Minister for Food Ch Abdul Ghafoor, Chief Executive Officer PBIT Saadat Muzaffar, President LCCI Shahzad Ali Malik and Industrialists of Iran and Pakistan were also present on the occasion.
Dr Salahi said that he will present an Iranian study about producing coal energy as a gift to the people of Punjab. He added that Khorasan can also help Punjab in producing electricity from water, coal, air and solar sources of energy. He expressed the hope of an industrial exchange programme between Punjab and Khorasan that would help in promotion of trade relations between the two provinces. Dr Mahmoud Salahi also extended an invitation to Pakistani industrialists for participating in an international investment conference to be held in Khorasan next month.
PBIT Chief Executive Officer Saadat Muzaffar, while speaking on the occasion expressed that the long-standing historical bond between Iran and Pakistan would be translated into concrete economic ties through strengthening of trade and economic prospects between the two countries and particularly the two provinces of Punjab and Khorasan Razavi. Muzaffar recognised the forum as an opportunity to showcase positive investment possibilities for both nations which would result in multiple joint ventures, trade agreements and technology transfers amongst private sector parties. The PBIT CEO indicated that the trade volume between the two countries is currently about $1,300 million but economists believe that its true potential is no less than $1.5 billion, given that barriers to trade are eliminated.
Lahore Chamber of Commerce and Industry President Shahzad Ali Malik stated that the trade balance between the two countries is consistently rising, which is a pleasing sign. He further said that Pakistani investors should benefit from the expertise of Iranian companies. He revealed that the Iranian Consulate is helping the Pakistani business community with regards to the issuance of visas which would create symbiotic ties between industrialists from both countries.
The event drew attention towards investment and trading opportunities to Iranian investors in Punjab, where the private sector delegates and government officials also discussed the most pressing projects that can be initiated and enhanced through this visit. The Pakistan–Iran Business Forum was a success both in terms of effective business networking with Iranian investors and the marketing of prospective investments in Punjab. In this one-day forum, a vast interest in sessions for Agribusiness, Livestock & Dairy, Mines & Energy, Infrastructure, and Tourism was witnessed amongst Iranian and Pakistani delegates. The forum also allowed Iranian investors to determine the political will of Punjab Government in making potential investment easy and hassle-free. Through this business forum, Punjab Board of Investment and Trade (PBIT), which is a Punjab’s premier investment promotion agency, has provided a platform of linking Punjab to a huge network of prospective investors from Iran.
