ISLAMABAD, Jan 20: The Economic Cooperation Organization (ECO) could provide Iran and Pakistan further opportunities for strengthening the economic and trading relations between the two countries.

This was stated by Federal Minister for Industries and Production Liaqat Ali Jatoi in a meeting with Iranian ambassador Muhammad Ebrahim Taherian, who called on him here on Tuesday. They discussed issues of mutual interest relating to the industrial sector.

The minister stressed the need for bilateral cooperation and technical assistance in petrochemical and engineering sectors and urged for more interaction for enhancement of trade.

The minister said the trade and cultural links between Iran and Pakistan have existed for centuries due to their physical proximity and common religious beliefs and this would continue in future.

The forthcoming ministerial meeting of the ECO to be held on January 25-28 in Tehran also came under discussion. The meeting will consider ECO plan of action for regional cooperation in the field of industry.

A three-member delegation comprising chairman Expert Advisory Council and representatives of Pakistan Industrial Development Corporation (PIDC), headed by the industries minister, will go to Iran to participate in the meeting.

Mr Jatoi said that the first ECO ministerial meeting would be an excellent forum for ensuring the political commitment of the member countries for regional cooperation in industrial sector, determining priorities and drawing a road-map for future actions and collaboration among the member states.

ECO members states may join hands for technological upgradation for industrial sector, he urged. The minister reiterated that Pakistan was looking forward to getting increased market access for Pakistani products abroad and ECO states could cooperate in exploring the possibility of increasing our access to these markets as well.

The ambassador informed the minister that there was a huge potential for trading and Iran would make efforts to enhance its trade volume with Pakistan to $1 billion annually in future.