Author: Saad Ali Khan
Pakistan is looking forward for an FTA with Iran. The interest was expressed by Minster for Commerce, Khurram Dastagir Khan while talking to local press. He said that the lifting sanctions from Iran have provided Pakistan with a historic opportunity to grow economy.
He added that 3 special trade check–posts between the countries will be made that will ensure safe transit of goods. These check-posts will be inter-linked together and will be well equipped according to the latest international standards.
Further, he announced that that Pak-Iran active banking linkages will be established this quarter to ease the process of payments made by traders in the two countries.
Furthermore, he emphasized on stable agri-tarrifs and agreement over SPS (Sanitary and Phytosanitary) from Iran.
Iranian ambassador of Pakistan, Mehdi Honardost has also expressed its interest on the call of FTA and, said that draft of FTA can be forwarded to the Ministry of Commerce in Iran as soon as he will receive the required ‘approval’.
Pakistan and Iran already are having a Preferential Trade Agreement and after the sanctions on Iran are lifted.
Our analysis is that this both countries should go for an FTA because it will bring the trade between the countries on a next strategic level and the bi-lateral trade between Pakistan and Iran can rise up-to 1.35 Billion USD, which will be more than 625% since, the United Nations Security Council Resolution # 1984 was passed on 9th June 2011, which imposed the most strict trade sanctions ever made by UN on Iran.
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