LAHORE, June 25: About 300 items have been identified for trade between Pakistan and Iran which would help increase volume of bilateral trade by one billion dollars.

Speaking to businessmen and industrialists at the Lahore Chamber of Commerce and Industry on Wednesday, Iraj Hassan Poar, President, Commerce Organisation of Sistan and Iranian Baluchistan province, said that Pakistan and Iran needed to have the highest level of bilateral trade as both the nations wanted to face the challenges of globalisation.

“Pakistani businessmen should join hands with their Iranian counterparts for getting both the countries a respectable place in the highly globalised market,” he said.

He said Iran was in a position to transit Pakistani goods to all the neighbouring countries.

“Pakistani businessmen should avail the opportunity for mutual benefit,” he said, adding, lack of information was coming in the way of expansion of bilateral trade between Pakistan and Iran.

“The problem can be solved by frequent exchange of trade delegations and holding joint trade exhibitions.”

He asked the LCCI president to arrange a trade delegation to Iran so that Pakistani businessmen could have an assessment of business opportunities there.

Zahidan Chamber of Commerce and Industry and Mines President Abdul Hakim Reigi said that Pakistan could import homeopathic medicines, dates and a number of other products from Iran.

He said Iran wanted to import quality food products from Pakistan. He said that Pakistan could establish units for producing value-added dates in collaboration with Iran for re-export.

He said Pakistan government should allow concessions on export of rice, potato and kinno to Iran.

He also invited the LCCI to hold single-country exhibition of Pakistani products in Zahidan.

LCCI Vice President Shafqat Saeed Piracha said there was a need to raise the level of trade between the two countries to one billion dollars.

The trade was confined to a limited number of products. Pakistan’s exports to Iran mainly comprise rice, wheat, cotton, leather products, textile yarn, etc., and imports comprised petroleum and petroleum products, spices, tea, pistachio nuts, woollen carpets, fruits and vegetables.

He said lack of information about business opportunities was the major bottleneck in promotion of trade between the two countries.

The issue can be taken care of through the active engagement of the chambers of both the countries. The chambers could act as resource base for information on trade and investment opportunities.