Pakistan, Iran Poised to Deepen Economic Ties: Iranian Consul General

Lahore, Pakistan — The Consul General of the Islamic Republic of Iran in Lahore, Mehran Movahedfar, has said that Pakistan and Iran are currently in the best position to strengthen bilateral relations, particularly in the economic sphere. He emphasized that both countries should seize the opportunity to enhance cooperation across multiple sectors.

Speaking at a meeting at the Lahore Chamber of Commerce & Industry (LCCI), Movahedfar said, “We are in the best position to extend economic cooperation,” adding that the relationship between the two neighboring nations has reached a stage of unprecedented goodwill and understanding.

The meeting was chaired by LCCI President Faheem-ur-Rehman Saigol, with Senior Vice President Tanveer Ahmed Sheikh, Vice President Khurram Lodhi, and members of the Executive Committee in attendance.

Movahedfar highlighted that the LCCI and the Iranian Consulate have long maintained cordial relations, expressing hope that these ties would grow stronger under Saigol’s leadership. He noted that relations between Iran and Pakistan are at their best, citing recent high-level exchanges, including visits by two Iranian Presidents and two Foreign Ministers over the past two years.

He also expressed appreciation for the solidarity shown by the Pakistani people during the recent Israeli attacks, and commended Pakistan’s resilience in defending its sovereignty. Referring to Pakistan’s historic four-day conflict with India, he remarked, “A country that has a personality like Allama Iqbal can never be defeated.”

The Consul General revealed that during Iranian President Masoud Pezeshkian’s visit to Pakistan, both countries signed 12 Memorandums of Understanding (MoUs) — 11 of them related to trade and commerce. He said that over the past year, Iran imported 400 tons of rice, 30,000 tons of meat, and 200,000 tons of maize and animal feed from Pakistan, alongside other agricultural products.

Expressing confidence in Pakistan’s trade potential, Movahedfar said Iran aims to raise bilateral trade volume to US$10 billion, adding that the LCCI can play a pivotal role in achieving this target. He also invited the LCCI president and his delegation to attend the Tehran Expo in January, an invitation that Saigol accepted.

In his remarks, LCCI President Faheem-ur-Rehman Saigol said Pakistan and Iran share deep religious, historical, and cultural bonds, adding that both nations have always maintained relations based on trust, goodwill, and mutual respect.

He emphasized that the LCCI is committed to turning this friendship into a strong economic partnership, pointing out that Pakistan’s SRO 642, issued on June 1, 2023, has paved the way for border trade with Iran. He also welcomed the recent extension of trade transaction periods to 120 days for Iran, Russia, and Afghanistan, calling it a positive step toward facilitating practical cross-border business.

Saigol said Pakistan can export rice, meat, textiles, fruits, vegetables, and pharmaceuticals to Iran, while Iran can supply petroleum products and industrial raw materials to Pakistan. He called for single-country exhibitions, exchange of trade delegations, and enhanced private-sector cooperation to explore untapped opportunities.

The LCCI President reiterated the Chamber’s opposition to smuggling and support for formal, documented trade, urging both sides to expand banking channels for transparent transactions. He proposed that Iran establish a financial institution in Pakistan, while Pakistan could open one in Iran to promote smoother trade settlements.