Finance Minister Dr. Abdul Hafeez Shaikh on Monday said that Pakistan will not succumb to any international pressure and will continue with Iran-Pak gas pipeline project and import of electricity from neighboring Iran. Addressing the inaugural session of the Pakistan-Iran bilateral economic meeting, he said Pakistan will also invest to improve the rail and air travel with Iran to enhance business linkages. Iranian Vice President for International Affairs, Ali Saeedlou headed the Iranian delegation at the meeting.
A planned joint press conference after the conclusion of the talks was cancelled due the Supreme Court decision which suspended membership of 28 MPs including the Finance Minister who is Senator for being elected when Election Commission was incomplete under the 18th amendment.
Addressing the meeting, Finance Minister termed Iran an important neighbor of Pakistan and urged that both the countries need to expand their bilateral trade. He said work on Iran-Pakistan gas pipeline project would be expedited to complete the project as soon as possible to overcome energy shortages in the country. He said the yearly bilateral trade between the two counties was just $1.5 billion which could be enhanced to $ 5 billion. He stressed enhancing cooperation in horticulture, livestock, energy, and telecom sectors. He said that there was need to eliminate tariff and non-tariff barriers and provide incentives to private sector for trade development. He said the communication links between Quetta and Taftan would also be improved to facilitate trade and movement of the people. Speaking on the occasion, Iranian Vice President Ali Saeedlou noted that Pakistan and Iran have great potential to enhance their cooperation in trade and economy. He said Iran would help development of Pakistan and added that work on gas pipeline project would be expedited. He also announced $ 100 million support for the flood victims. Important on going projects, like the gas pipeline, electricity import projects, trade in meat, rice and textile, banking cooperation and currency swap arrangement, up-gradation of Quetta-Taftan Railway line, civil aviation and opening of new border post at Gadb-Reemdan and Pakistan’s Cultural Center in Tehran were also discussed in the meeting. Both sides will also discuss establishment of new consulate at Bandar Abbas, project proposals for Iranian Development Assistance, Agreement on International Road Transportation of Passengers and Good, cooperation in IT and Telecommunication, cooperation in industry.
