Pakistan looking towards Euro for trade with Iran


Planning to seek more market access for its products and businesses during the upcoming visit of Iranian President Hasan Rouhani, Pakistan has decided to expedite bilateral trade with her neighbour in Euro, Pakistan Today has learnt through reliable sources.

An official source said that Pakistan was likely to seek permission for holding road shows and exhibitions across Iran for her products. The demand also includes fast tracking the process of authorisation of licenses to Pakistani agriculture products exporters, the source said.

If permission was given Pakistan would arrange a major road show in Iran showcasing her products, he said, adding, Pakistan wanted to enhance its export basket to Iran by exporting agriculture commodities, home appliances light engineering products and value-added textile.

The government is already suggesting local businessmen to focus on Iran for trade purposes. It is recommending traders to start trading in Euro with Iran as formal trade in US dollars may take some time.

It is important to mention that the State Bank of Pakistan has already said that there is no issue in establishing banking relations with Iran. Businesses are free to start trade with Iran. The ministry of commerce is also working on proposals for a comprehensive strategy to enhance trade cooperation with Iran. Representatives of three private banks have visited Iran to establish banking links which the central bank is also encouraging. The government has repeatedly said that there is no restriction on the trading through formal banking channels with Iranian companies.