CPEC SEZs offer huge opportunity in Pakistan for investment: Iranian envoy

Lahore: Iran’s Ambassador to Pakistan Reza Amiri Moghaddam said on Sunday afternoon that there was a huge opportunity in Pakistan for investment due to the Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC).

Speaking to journalists here, he also mentioned that there exists an opportunity for both nations to increase their bilateral trade volume by 10% through the utilization of a common currency and the implementation of barter trade.

Ambassador Reza Amiri Moghaddam emphasized the long-standing relations between the peoples of Pakistan and Iran, regretting that these fraternal ties have yet to transform into robust economic cooperation.

The envoy pointed out that the previous fiscal year witnessed bilateral trade amounting to Pakistani Rs 2.40 billion, a figure that could see a substantial boost through the adoption of a common currency and the facilitation of barter trade.

He also highlighted the mutual commitment of both governments to strengthen their relations across various sectors including trade and investment.

He underlined that the CPEC SEZs offered massive opportunities to the local, Iranian and other foreign investors.

The Ambassador expressed confidence that the leadership and citizens of both nations have close ties.

He noted Iran’s demand for Pakistani agricultural products such as rice, meat, and textiles, while Pakistan requires Iranian oil and gas. He maintained that the inflow of Iranian building materials, food items, and knowledge-based products into Pakistan, along with the prospect of Tehran exporting agricultural machinery, including tractors, to Pakistan.