Pakistan Iran eye 5bn worth of bilateral trade by 2021
Date
3/28/2016 12:22:03 PM
(MENAFN- The Journal Of Turkish Weekly) >Realizing $5 billion worth of annual trade between Pakistan and Iran -- especially with investments in transport and a proposed natural gas pipeline -- is a realistic goal experts say.
Iranian President Hassan Rouhani arrived in Islamabad on Friday for a two-day visit during which he spoke with Pakistani officials about boosting trade ties and reviving plans for a proposed gas pipeline between the two countries.
The two countries on Friday signed a five-year action plan aimed at increasing the bilateral trade volume to $5 billion by 2021.
According to Pakistan’s Trade Development Authority commerce between the two countries hit nearly $1.32 billion in 2008/09 before falling to $432 million in 2010/11 due to western sanctions on Tehran.
"Iran realized that Pakistan’s politics [vis-à-vis] the Arabs is being executed in an impartial manner" Pakistani defense analyst Ikram Sehgal told Anadolu Agency.
"It is clear that Pakistan will not [adopt] the Arab countries’ policies regarding Iran" he said.
Noting that Rouhani’s visit to Pakistan was the first of its kind in 14 years Sehgal said: "It shows the improvement of political relations between the two countries."
"In the past certain armed groups in Pakistan had used sectarian violence [within the context] of proxy wars" Sehgal added. "But between Shiites and Sunnis there has never been a major conflict; they have continued living in harmony."
Pakistani economist Hasan Asfak said Rouhani’s visit -- which took place after sanctions on Iran were lifted -- would have a positive impact on bilateral trade.
"This target [$5 billion of trade by 2021] is achievable" he said. "The creation of land and sea links between Iran’s Chabahar and Pakistan's Gwadar Port will help achieve this target."
"The visit [by Rouhani] will also be a significant incentive for increasing cooperation in the field of energy particularly natural gas" the economist added.
Noting that Pakistan was trying to play a neutral role in the current tension between Iran and Saudi Arabia Hasan said that Islamabad was pursuing a policy of "balance" between the two rivals.
Ekrem Zeki for his part a former Pakistani diplomat and current Senate Foreign Relations Committee chairman said that Rouhani’s "successful" visit to Islamabad suggested that Tehran would likely participate in the proposed gas pipeline project.
By Yusuf Hatip
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