Pakistan to resume banking channels with Iran in few weeks

ISLAMABAD, January 19: Days after sanctions on Iran were lifted, Pakistan minister for commerce says the two countries can resume their banking channels in ‘few weeks’ as a most crucial step to enhance trading activities immediately. In an exclusive interview with IRNA on Tuesday, Khurram Dastgir Khan, said Prime Minister Nawaz Sharif has been very keen to resume trade with Iran ever since he visited Tehran in 2014.
“Resumption of banking channel is the highest priority and I hope that we can resume in weeks,” said the minister.
Referring to his recent meeting with the new Iranian ambassador in Pakistan Mahdi Honardoost, the minister said he is very happy that the meeting ‘was held immediately after lifting of sanctions because sanctions have been a great impediment to increase trade with Iran.’
Pointing to Prime Minister Nawaz Sharif’s Tuesday visit to Tehran, the minister added, ‘We are very excited about Prime Minister Nawaz Sharif’s upcoming Iran visit, although he will be discussing tension in the region but he will also be discussing with President (Hassan) Rouhani how to put Iran-Pakistan relationship on a firm foundation and the best foundation for the countries is the economic foundation.’
Khurram Dastgir Khan added that Pakistan can currently start acting immediately on what it has already agreed with Iran regarding boosting the trade ties.
“We can put on place the structure which will allow our business sector to come closer together,” he stressed. “Now the sanctions are lifted, we not only welcome the lifting of sanctions but are very enthusiastic that lot of trade that has been stopped for the last three years mainly can begin immediately,” he added.
Pakistani official went on to say that there would be great interest from Pakistani rice exporters, textile exporters other industries that are coming up rapidly to start trading with Iran.
“We are also hoping to start our imports from Iran which have been almost stopped particularly in the gas sector and also the steel sector so we are very enthusiastic that trade can begin,” he said.
Khurram Dastgir Khan added that Pakistan is very much looking forward that this international recognition of Iran will help the country to regularize its trade so that the trade is done properly under proper regulations on both sides. He said that Pakistan is now planning to immediately improve the infrastructure at the border so the crossing points proposed by the Pakistan can be built properly and facilitate the border markets. – NNI