Iranian Ambassador Mohammad Ali Hosseini reiterated his nation’s support for the Iran-Pakistan (IP) Gas Pipeline project on Tuesday and offered the possibility of expanding cooperation to other areas of mutual interest.
Iran is prepared to accelerate the development of border markets, finish energy projects, including the IP gas pipeline, negotiate a free trade agreement, and collaborate on significant ports and security problems, according to Ambassador Hosseini.
He claims that since Iran is not subject to sanctions, Pakistan may fully rely on this resource to cover its energy needs. The IP gas pipeline was a significant endeavor in that environment, and both countries recognized its importance.
He explained that the gas pipeline project was being discussed by the technical committee and that its completion would also open up new possibilities for bilateral cooperation between the two countries.
To meet the needs of its bordering regions, Iran already exports 100 megawatts of electricity to Pakistan, and this volume would increase in the future, the envoy claimed.
He claimed that work was also being done on a different plan to supply Pakistan with electricity. The two countries had advanced in that way already.
According to Ambassador Hosseini, the industrial zones in particular offer opportunities for investors from both nations.
He continued that in addition to connecting Pakistan and Iran, the North-South and East-West lanes would strengthen the former’s economic and commercial connection with Central Asia, Europe, the Middle East, and Russia. Additionally, he highlighted the contributions made by both countries to regional economic and trade integration.
He stated that efforts were being made by the two countries to boost their bilateral trade to $5 billion.
According to him, a collaboration between Pakistan and Iran, two geographically significant countries, was essential to achieving their geoeconomic objectives.
The envoy asserted that the two countries might come up with ways to collaborate financially and commercially. There’s a chance that a financial route will open shortly, he said.
He asserted that since “we have the history of bilateral commerce in grains and meat,” barter trading between the two countries might be fostered.
The ambassador suggested that the younger generation get involved in promoting e-commerce trade between the two countries.
Similar to this, he claimed that cooperation between the business associations and chambers of both nations will foster cordial ties on both sides.