Pakistan-Iran Business Think Thank to be established at LCCI
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
The Pakistan-Iran Business Think Tank will be established at the Lahore Chamber of Commerce and Industry to identify, study, and overcome economic issues faced by the brotherly states.
The decision was taken during a meeting of the Iranian delegation, led by Consul General Mehran Movahedfar and the LCCI office bearers on Monday. The delegation which also includes representatives from Tamim Petroleum & Petrochemical Investment Company, discussed various aspects of economy, trade, and investment.
Babak Afghahi highlighted that the group engaged in diverse manufacturing sectors. Iranian businessmen have a strong desire to enhance economic cooperation with Pakistan. He underscored the importance of better economic relations with neighboring countries stressing that both Pakistan and Iran should work together to fulfill each other’s needs.
The delegates mentioned that Pakistani businessmen need to engage with Iranian companies, especially in the petrochemical and LPG sectors.
LCCI Senior Vice President Zafar Mahmood Chaudhry highlighted the importance of such interactions in strengthening long-term trade and economic ties. He called for export-based joint ventures in Pakistan to increase bilateral business.
He said that there is booming petroleum consumption in Pakistan with significant demand for oil and petrochemical products. Iranian companies could explore opportunities in Pakistan for exporting oil and petrochemical products as well as setting up oil refineries in collaboration with Pakistani partners through joint ventures.
He also spoke about the issue of unofficial routes for importing crude oil, finished oil, diesel, LPG, petrochemicals, and bitumen from Iran. He called for the implementation of a barter trade mechanism to facilitate the exchange of Pakistani food products, particularly rice, for Iranian oil and petrochemical products.
Reference Link:- https://pakobserver.net/pak-iran-business-think-thank-to-be-established-at-lcci/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
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