Iran, Pakistan’s Economies Complementary – OpEd

The economies of Iran and Pakistan complement one another, the Iranian international minister mentioned, highlighting the essential position that the joint membership of the 2 neighbors within the regional and worldwide organizations can play within the enhancement of their financial relations. 

Throughout an official go to to Pakistan, Iranian Overseas Minister Hossein Amirabdollahian traveled to Karachi on Friday.

The highest Iranian diplomat and his delegation attended an financial occasion on the consulate common of Iran within the port metropolis.

What follows is the textual content of the Iranian international minister’s speech on the assembly on ‘Financial and Funding Alternatives between Iran and Pakistan’, attended by Pakistani traders and enterprise individuals.

“Within the Identify of God the Most Beneficent, the Most Merciful

Girls and Gents, Pricey Viewers

Salam Aleykom,

I’m very happy to be current within the metropolis of Karachi, the financial and industrial hub of Pakistan, within the firm of pricey Pakistani brothers and sisters and businessmen and financial activists of this nation.

The Islamic Republic of Pakistan, as a neighboring and Muslim nation, has at all times been of nice significance to the Islamic Republic of Iran. The existence of greater than 9 hundred kilometers of frequent land border and plenty of historic, cultural and non secular commonalities have made the connection between the 2 international locations sturdy.

On this regard, in recent times, efficient measures have been taken to increase the relations between the 2 international locations, particularly within the financial subject. For instance, with the cooperation of the each side, two new border terminals have been opened within the areas of “Rimdan-Gabed” and “Pishin-Mand” alongside the frequent border. Additionally, an MoU has been signed for the opening of six joint border markets.

As well as, as a consequence of the truth that each international locations have a strategic geographical place and are positioned on the trail of worldwide transportation corridors and international transportation plans such because the Belt and Highway Initiative, efforts have been made to utilize the prevailing capacities for the event of bilateral and regional cooperation within the fields of transportation and transit.

It’s value mentioning that the geographical location of the 2 ports of Chabahar (in Iran) and Gwadar (in Pakistan) are different capacities that may be exploited in an effort to improve the bilateral and regional financial cooperation of the 2 international locations.

The economies of Iran and Pakistan are inherently complementary. For instance, Pakistan generally is a provider of Iran’s wants within the agricultural sector, and Iran can cowl Pakistan’s want for vitality. For this objective, the Iran-Pakistan (IP) gasoline pipeline has been prolonged by the federal government of the Islamic Republic of Iran to the border of Pakistan. Iran’s electrical energy exports to Pakistan have additionally been on the rise. The full bilateral commerce between Iran and Pakistan has been going up in recent times and reached greater than $2.3 billion.

Additionally, the simultaneous membership of Iran and Pakistan in regional preparations such because the Financial Cooperation Group (ECO), the Group of Eight Creating Islamic International locations (D8), the Shanghai Cooperation Group and the Asian Commerce Union (ACU) in addition to the constructive bilateral cooperation in worldwide our bodies such because the World Financial institution, the Worldwide Financial Fund, the Financial and Social Council of the United Nations (ECOSOC) and the United Nations Industrial Improvement Group (UNIDO) additionally present an appropriate platform for selling industrial and financial relations. 

However, the personal sector performs an simple position in creating bilateral financial cooperation. The Islamic Republic of Iran helps the event of tourism between the 2 international locations. The Islamic Republic of Iran declares its readiness to supply well being tourism providers to the pricey Pakistani sisters and brothers.

We hope that with the rise of cooperation between the 2 pleasant and brotherly international locations of Iran and Pakistan, we are going to witness the ever-increasing growth of bilateral financial and industrial cooperation.

Lengthy stay the friendship between Iran and Pakistan.”