Pakistan and Iran are set to engage in discussions aimed at
bolstering trade relations and resolving technical and penalty-related issues
concerning the Pak-Iran Gas Pipeline Project. A meeting between the central
bank chiefs of both countries is to explore the possibility of currency swaps.
The recent visit of Pakistan's Chief of Army Staff (COAS), Gen
Asim Munir, to Iran has paved the way for establishing necessary mechanisms to
boost economic collaboration between the two nations.
Considering the economic sanctions imposed on Iran by the United
States, both Pakistan and Iran recognize the importance of finding viable
solutions to establish trade and economic linkages. This includes exploring
various alternatives such as barter trade and currency swaps.
A recent official announcement by the Ministry of Finance
revealed that Iranian Ambassador to Pakistan, Reza Amiri Moghaddam, met with
Federal Minister for Finance Senator Mohammad Ishaq Dar at the Finance
Division. During the meeting, they discussed various fields of mutual
cooperation, including trade, investment, and security. One of the key areas of
focus was enhancing trade relations through the activation of
recently-inaugurated border markets and the opening of three additional border
markets.
Furthermore, collaboration in the banking sector was discussed,
and both sides agreed that the heads of their respective central banks would
hold a meeting in Pakistan the following week to address issues related to
banking cooperation.
The importance of the Iran-Pakistan Gas Pipeline was underscored
during the discussions, and efforts to overcome technical challenges were
emphasized for the benefit of both nations. Both Pakistan and Iran expressed
appreciation for each other's support and cooperation on international forums.
Source: The News