Karachi: K.H.A. Business and International Relations President Kafeel Hussain Group CEO and architect Kafeel Hussain held meeting with Iran’s Counsel General Nourian Hussain Nourian, to discuss mutual interests. During meeting, Kafeel Hussain highlighted strong commercial and business relations between Pakistan and Iran. He mentioned that Pakistan has experienced 13.5 percent annual increase in imports from Iran over past 24 years and efforts are being made to further enhance this growth. He emphasised importance of formalizing free trade agreements to boost bilateral trade between two countries. He said that such agreements would facilitate easier access to markets for products and services from both nations, thereby promoting economic stability. In 2022, Pakistan’s imports from Iran reached $ 1.448 billion while exports to Iran amounted to $ 842.8 million. He emphasised Iran’s potential role in helping Pakistan overcome challenges such as gas shortages and other crises, which would contribute to economic stability of both nations.  Counsel General Hassan Nourian echoed similar sentiments, stating that both countries are taking comprehensive measures to improve their economic conditions.

He acknowledged significant potential for trade enhancement between Iran and Pakistan but stressed need to address challenges such as smuggling, diversification of high-value products and maximising trade capabilities. Nourian Hussain emphasised importance of concrete steps to tackle these challenges and further strengthen trade relations.

He expressed desire for Muslim countries to promote peace in region through brotherly cooperation, while also highlighting potential for cultural, commercial and economic growth through investments between Pakistan and Iran.

Published in The Daily National Courier, March, 26 2024

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.