Daily Times

Iranian Ambassador Mohammad Ali Hosseini on Tuesday offered his government’s support to complete Iran-Pakistan (IP) Gas Pipeline project and hinted to extend cooperation in other fields of mutual interest.

Ambassador Hosseini, in an interview, said Iran was willing to further strengthen mutual trade cooperation; completion of energy projects, especially the IP gas pipeline; progress in the establishment of border markets; finalization of a free trade agreement, and collaboration on major ports and security areas.

He said there were no sanctions on the export of gas from Iran and Pakistan could take full benefit of it to fulfill its energy needs. The IP gas pipeline was a key project in that regard and both countries realized its importance. The gas pipeline project was being deliberated by the technical committee, he said, adding its completion would also open new avenues for mutual cooperation between the two countries.

The ambassador said Iran was already exporting 100 megawatts of electricity to Pakistan for meeting the power needs (of its bordering areas) and it would be increased in future. He said work was also going on another project to provide electricity to Pakistan. Both countries had taken initial steps in that regard.

Ambassador Hosseini identified opportunities for investors of both countries in various trade sectors, particularly the industrial zones. Highlighting the role of both countries in regional economic and trade integration, he said and North-South and East-West corridors would not only connect Pakistan to Iran, but also help the former’s trade and economic integration with Central Asia, Europe, Middle East, and Russia.

He said the two countries were making joint efforts to achieve the target of enhancing their mutual trade to $5 billion. He said both Pakistan and Iran were geographically very important countries and their mutual cooperation was of utmost importance to make it useful for their geo-economic interests.

The ambassador said the two countries could find ways for mutual economic partnership and trade. There was possibility of opening a banking channel in the near future, he added. He said barter trade between the two countries could be promoted as “we have the example of mutual trade in rice and meat”.