February 28, 2006	Tuesday	Muharram 29, 1427

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LAHORE, Feb 27: It is high time that the Pakistani business community joined hands with their Iranian counterparts as the prices of inputs like petrol, gas and electricity are quite cheaper in Iran as compared to Pakistan.

“This would help both the countries get a respectable place in the global market which is highly competitive at the moment,” said speakers at a seminar on “Business Opportunities in Iran and Pakistan” held here at the Lahore Chamber of Commerce and Industry (LCCI) on Monday.

The seminar was addressed by Punjab industries minister Ajmal Cheema, Iranian ambassador Ebrahim Taherian, Iranian Consul General Muhammad Khudadi, head of Iranian delegation Eng Hussein Salimi, LCCI president Mian Shafqat Ali, senior vice-president Abdul Basit, vice-president Aftab Ahmad Vohra and former president Mohsin Raza Bukhari.

Speaking on the occasion, the Iranian ambassador said that it was a matter of great concern that the legal trade between the two countries was only 480 million dollars as compared to illegal trade of 1.5billion dollars. He said that private sectors of both the countries should make concerted efforts to increase the volume of bilateral trade.

He said that after three decades of experience “we have reached the conclusion that the corporate sector is the real motivating force to bring prosperity in any country so we are ready to facilitate all the businessmen either they are from Pakistan or Iran”.

Ajmal Cheema said there was a lack of information about goods being produced in Iran and the Iranian government should hold single country exhibition in Pakistan. He said the Punjab government would provide free space to the Iranian businessmen wanting to arrange an exhibition in Pakistan. The Iranian trading community should give preference to their Pakistani counterparts while doing trade with a third country.

Mr Cheema also briefed the Iranian business delegation about the available opportunities in Pakistan and the business-friendly policies of the Punjab government.

Eng Hussein Salimi said it was quite unfortunate that both Iran and Pakistan were giving away their precious foreign exchange to the third party despite having goods of international standards and good quality.

About financial difficulties being faced by the businessmen doing business with Iran, Eng Salimi said that a leading Iranian bank was going to open its branch in Pakistan very soon. He also expressed dissatisfaction over the existing level of a two-way trade between the two countries.

The Iranian consul general urged the businessmen of both the sides to take concrete measures to promote bilateral trade relations. He said that chambers of commerce in both the countries should come forward and guide the businessmen about trade opportunities available in their respective countries.

Mian Shafqat Ali said although Pakistan and Iran had historical, cultural and religious affinity and share a common border of 909km, the economic relations between them had been very weak. The trade between the two countries was insignificant.

He said that a limited number of products were traded between Pakistan and Iran. Pakistan’s exports to Iran mainly comprise rice, wheat, cotton, leather products, textile yarn, and imports from Iran mainly consist of petroleum and petroleum products, spices, tea, pistachio nuts, woollen carpets, fruits and vegetables, which suggested for identification of more potential products to enhance the mutual trade.