Iran, one of the largest steel exporter in MENA region
is looking to increase economic ties with its neighbors in order to counter US
sanctions. Recently Iranian officials met Pakistani officials and discussed
about increasing the economic ties among both the nations.
Recently, Mr. Mohammad Rafiei, Iran's Consul General
met Mr. Jam Kamal Khan Chief minister of Pakistan's Balochistan Province and
discussed about increasing the bilateral trade up to USD 5 Bn. Mr. Rafiei said,
“Iran-Pakistan Free Economic Zone is expected to open in the city of Mirjaveh
in Iran's Sistan-Baluchistan Province in the coming days.”
They also discussed implementation of decisions taken
by the Pakistan-Iran Border Commission and Joint Border Trade Commission. Mr.
Rafiei added, "Both nations have had social, political and cultural
relations for decades; therefore, the Iranian government has always placed
importance on relations with Pakistan." Balochistan Province is an
important bridge between Pakistan and Iran.
Mr. Kamal Khan said, “Today, relations between the two countries
depend a lot upon trade and economic relations with neighboring country can
only be strengthened by boosting trade activities. The tax-free border markets
in Pakistan and Iran will boost economic ties between the two countries.”
Iran Finished Long Steel Export to Pakistan
According to Iranian customs department, the nation has
exported 6,858 MT finished long steel to Pakistan during CY’16. During CY’17,
with an export of 18,870 MT, finished long steel export increased by around
175% Y-o-Y. Iran has already exported 17,804 MT finished long steel to Pakistan
till Oct’18.
Source: Steel mint