Islamabad, September 24, 2024 – In a significant move to enhance trade relations between Pakistan and Iran, the Ambassador of Iran to Pakistan, H.E. Dr. Reza Amiri Moghaddam, met with Chairman Federal Board of Revenue (FBR), Rashid Mahmood Langrial, at the FBR headquarters Tuesday.
The meeting focused on discussing various matters concerning customs, cross-border trade, and the management of trade flows to ensure the smooth facilitation of economic activities between the two neighboring countries.
During the meeting, both sides underscored the need to resolve key issues hindering the growth of bilateral trade, with particular emphasis on removing trade “irritants” that have impeded the full realization of economic potential. The officials expressed optimism about boosting economic cooperation through collaborative efforts, which will not only strengthen ties between Iran and Pakistan but also enhance regional economic integration.
The discussion revolved around the vital role that customs procedures play in promoting or hindering cross-border trade. Both Pakistan and Iran are keen to simplify these processes and eliminate bottlenecks that slow down the movement of goods and services across their shared border. To this end, the two sides agreed to form a joint sub-committee, which will be tasked with delving deeper into customs-related issues and proposing solutions aimed at streamlining procedures for traders on both sides.
This sub-committee will comprise technical experts from both countries, who will work collaboratively to identify and address the key challenges that businesses face. The sub-committee will focus on modernizing customs protocols, improving infrastructure at border crossings, and ensuring transparency and efficiency in trade transactions. The objective is to ensure a smoother, faster flow of goods, which could stimulate greater economic activity and open new avenues for trade between the two countries.
Both officials expressed their commitment to building upon the strong foundation of brotherly relations that already exist between Pakistan and Iran. They reiterated the importance of bilateral trade in fostering mutual economic growth and agreed that concerted efforts were needed to address challenges and maximize trade potential.
This meeting comes at a critical juncture as both countries seek to expand their economic ties. The agreed-upon measures, if implemented, could not only address longstanding customs issues but also serve as a catalyst for boosting regional trade and cooperation.
