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High level Iranian delegation to visit Islamabad for FTA

A high level Iranian delegation is scheduled to visit Islamabad in April to participate in the fourth round of the Free Trade Agreement (FTA) between Iran and Pakistan, local media reported.

The quoted sources saying that a high-level Iranian delegation will visit Islamabad to hold talks aimed at making advancement on FTA. ‘’This time we are hoping that talks on FTA would be fruitful”, they said.

Notwithstanding the fact that both countries have signed Memorandum of Understandings (MoUs), there is need to take practical measures to promote trade ties, reported IRNA.

They said that although the MoU are signed, they have not been implemented, and now, there was a need to implement MoUs in letter and spirit.

They said the provision of maximum relief to the businessmen and traders was among the top priority of the government of Pakistan.

Sources also said that if Iran agreed to open its branch of Melli Bank in Karachi, then it would help overcome many issues. Iranian banking channel was functioning in India since long while Indian Bank Union of Kolkata has continued to function during sanctions.

Moreover, one Turkish, two UAE and one Chinese bank have continued to work in Iran for transactions for oil payments as well as other sectors.

Talking about the recent Iranian trade delegation’s visit, they said two drafts were prepared during the delegation’s visit to Islamabad while accords were also signed for boosting bilateral cooperation.

Iran has expressed its desire to open a branch of Melli Bank in Karachi but the State Bank of Pakistan (SBP) has not allowed it, they said.

‘We are optimistic that a lot of things would be finalized in the upcoming meeting to be held in April between both countries and there would be a breakthrough in FTA”, sources said.

Iran Daily

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