Pakistan and Iran determined to increase bilateral trade to $5 billion
Shiite News: After the uplifting of bans from Iran, Pakistan and Iran are determined to increase the bilateral trade to $5 billion. According to senior officials of Ministry of commerce, bilateral trade between the two countries had never reached to this level in past and Pakistan had never been a great buyer of Iran’s gas and petroleum products whereas Iran wishes to sell its LNG to Pakistan.
Despite the uplifting of bans from Iran, there are still international bans on Iran for financial transaction which are expected to be uplifted till June 2016.
According to Ministry of Commerce, negotiations are also going on between Pakistan and Iran on FTA and the gas pipeline project between the two countries, which has been delayed since a long time, would also be soon completed.