Iranian envoy: Tehran, Islamabad have potential to raise trade to $10 billion

TEHRAN,May 26(MNA) - Iran and Pakistan have the potential to boost their bilateral trade to $10 billion annually from existing around $1 billion, Iranian ambassador to Pakistan Alireza Haqiqian said. “Talks on gas and electricity projects are well on way and would be materialized soon,” he added, the Fars News Agency quoted the Pakistani The Nation daily as reporting. He said that the volume of mutual trade between Pakistan and Iran does not match the level of their brotherly relations. He said that both the countries and their respective trade bodies would have to focus on expansion of trade by holding single country exhibitions or through trade delegations to each other’s country. A strategy would be evolved to remove the impediments coming the way of two-way trade and to achieve the desired results new targets would be set in the light of past experiences, he said, adding that agriculture, livestock and garments sectors in Iran have a lot of opportunities of investment therefore Pakistani business community should avail this opportunity. Pakistani President Asif Ali Zardari has said Islamabad would not limit trade relations with Iran “because of the political whims of any outside power.” Pakistan has no choice but to seek greater ties with its neighbors - Iran, China, India and Afghanistan - "because the economies of the West are in trouble and not in a position to help us," Zardari added, according to Press TV.