By Commerce Reporter
LAHORE: Pakistan and Iran are currently in the best position to enhance bilateral relations and should take full advantage of the prevailing situation, “we are in a best position to extend economic cooperation”, said Consul General of the Islamic Republic of Iran Mehran Movahedfar, during his address at a meeting held at the Lahore Chamber of Commerce & Industry (LCCI).
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On the occasion, LCCI President Faheem-ur-Rehman Saigol presented the address of welcome while Senior Vice President Tanveer Ahmed Sheikh, Vice President Khurram Lodhi, and members of the Executive Committee were also present.
The Iranian Consul General said that LCCI and the Iranian Consulate enjoy cordial relations and expressed hope that under the presidency of Faheem-ur-Rehman Saigol, these relations would further strengthen. He said that relations between Iran and Pakistan are currently excellent. During the past two years, two Iranian Presidents have visited Pakistan, and two Foreign Ministers have also made multiple visits.
He appreciated the love and support shown by the Pakistani people during the twelve-day Zionist attacks and said that both countries share a strong belief in protecting their sovereignty and independence. Referring to Pakistan’s four-day war with India, he lauded the courage of the Pakistani nation and remarked, “A country that has a personality like Allama Iqbal can never be defeated.”
Consul General highlighted that during Iranian President Masoud Pezeshkian’s visit, both countries signed 12 Memorandums of Understanding (MoUs) — 11 of which were related to trade and commerce.
He informed that in the past year, Iran imported 400 tons of rice, 30,000 tons of meat, 200,000 tons of maize and animal feed, along with various agricultural products from Pakistan. He expressed Iran’s desire to increase bilateral trade volume to 10 billion dollars and voiced confidence that LCCI would play a key role in achieving this target.
He also extended an invitation to LCCI President Faheem-ur-Rehman Saigol and his delegation to participate in the Tehran Expo in January, which the President gladly accepted.
In his welcome address, LCCI President Faheem-ur-Rehman Saigol said Pakistan and Iran are not only good neighbors but also share deep religious, historical, and cultural bonds. He emphasized that Pakistan takes pride in its longstanding relations with Iran, founded on trust, goodwill, and brotherhood.
He reaffirmed that the LCCI highly values the strong and consistent diplomatic relations between both countries and seeks to transform them into robust trade and economic partnerships.
LCCI President mentioned that Pakistan’s government issued SRO 642 on June 1, 2023, which paved the way for border trade between Pakistan and Iran. Recently, Pakistan amended trade procedures with Iran, Russia, and Afghanistan, extending the transaction period to 120 days — a step expected to make border trade more practical and business-friendly.
He highlighted that Pakistan could export rice, meat, textiles, fruits, vegetables, and pharmaceuticals to Iran, while Iran could supply petroleum products and industrial raw materials to Pakistan.
He underscored the importance of single-country exhibitions and exchange of trade delegations to better understand each other’s markets and maximize border trade opportunities.
The LCCI President reiterated that the Chamber supports formal and documented trade and has always opposed smuggling, which harms the economy. He called for joint efforts to normalize bilateral trade and economic ties and encouraged stronger private-sector connections.
He also proposed improving banking channels between the two countries to facilitate transparent transactions and suggested that Iran establish a financial institution in Pakistan, while Pakistan could do the same in Iran.
