Iran, Pakistan bilateral trade crossed USD 1 billion: Dastgir


Islamabad, June 15 (TNS): Federal Minister for Commerce, Engr. Khurram Dastgir Khan on Thursday said that bilateral trade between Iran and Pakistan has crossed USD 1 billion.

Khurram Dastgir Khan said this while chairing a meeting with senior officials of the ministry of commerce.

Minister for Commerce directed Secretary Commerce to launch Pakistan branding campaign, ensure inauguration of Pakistan Institute of Trade and Development (PITAD) building, completing work on STPF, E-commerce Framework, GI Law and FTAs especially with Thailand and Turkey by the end of this year.

The meeting was also attended by Secretary Commerce,  Younus Dagha who briefed the minister on progress on various initiatives in the commerce ministry.

“Commerce ministry is revising comprehensively the Strategic Trade Policy Framework (STPF) so that it facilitates the exporters and plays a more significant role in boosting the exports”. Commerce Minister directed secretary commerce to complete work on STPF by the end of this year.

Secretary Commerce briefed Commerce Minister that work on E-commerce framework and Law for geographical indication is on fast track and is most likely to be completed by the end of this year.“There is also need for revival of the TDAP to enable it to effectively cater to the needs of the exporters, to strictly monitor the performance of the Trade Officers working abroad, to work aggressively on concluding FTAs and revising PTAs and to explore new export markets”, added the secretary commerce.

Commerce Minister was also told in the meeting that steps have been taken to boost trade and as a result bilateral trade between Pakistan and Iran has crossed 1 billion dollars.

Commerce minister also directed to ensure reimbursement of the tax refunds and payments under PM package to the exporters to boost their confidence.