Pakistan and Iran agree to increase trade to $ 5 billion

QUETTA, January 26: Pakistan and Iran have agreed to increase the volume of bilateral trade to five billion dollars.
The understanding to this effect came at a meeting between Balochistan Chief Minister Sanaullah Zehri and outgoing Iranian Consul General Hassan Yahyavi here on Tuesday.
The Chief Minister said the lifting of sanctions against Iran will help enhance trade between Pakistan and Iran, which will directly benefit the people of Balochistan and Iranian province Sistan-Baluchistan.
He said Prime Minister Nawaz Sharif gives great importance to the relations with Iran.
The Iranian Consul General said he had worked for improvement of relations between the two countries during his five year tenure.
Meanwhile, Chief Minister of Balochestan Sanaullah Zehri has said that Pakistan can become a major energy importer from its western neighbor
Speaking to Fars News Agency, the Chief Minister Balochistan also said the priority for his province is to increase the volume of border trade with Iran.
According to Zehri, Iran has the potential to increase its electricity export to energy-starved Pakistan. The two neighbors also have the potential to decrease the costs of customs to diminish goods smuggling along their borders and crossing points. Zehri said he has already held talks with his counterpart Ali Osat Hashemi, the governor of Iran’s Sistan-Baluchestan province, during which both sides agreed to facilitate greater border trade. He said the two sides have also agreed to set up additional crossing points in order to reduce distance between Pakistan’s under-construction Gwadar deep-sea port to Iran’s Chabahar.
Presently, Pakistan imports 74 megawatts of electricity from Iran, and Islamabad is planning to increase the import to 100 megawatts.
Based on another plan, Pakistan is negotiating with Iran to import 1000 megawatts of electricity from the country and it is considering boosting it to 3000 megawatts. Pakistan is suffering from a severe energy shortage especially a lack of electricity.-Agencies