Pakistan and Iran signed two Memorandums of Understanding (MoUs) to further promote bilateral relations in the field of trade and economic, according to an official statement. The MoUs of 16th Session of Joint Economic Commission between Iran and Pakistan were signed by Manouchehr Mottaki, Iranian Minister of Foreign Affairs and Dr. Salman Shah, Adviser to the Pakistan Prime Minister for Finance, Revenue, Economic Affairs and Statistics. The MoU between the Central Board of Revenue, and the Customs Administration of Iran on the implementation of the Inter-governmental Agreement on Customs Cooperation was signed by M. Abdullah Yusuf, Chairman, Central Board of Revenue, and Mohammad Hashem Rahbari, Deputy Minister of Finance and Economic Affairs/chairman of Customs Administration, Iran. Under the MoU of 16th Session of Joint Economic Commission between Iran and Pakistan, both the countries formalised their economic relations through the establishment of Pak-Iran Joint Economic Commission (JEC) in 1984 and its 16th session was now in progress in Islamabad. On the issue of bilateral trade, both sides reiterated the need for enhancing cooperation between public and private sectors of the two countries with a view to achieving the target of bilateral trade of $1 billion. The Iranian side informed that the Pak-Iran Preferential Trade Agreement (PTA) had been ratified by the Iranian Parliament recently. Pakistan welcomed the move and urged that PTA be made operational at the earliest possible. As Pakistan has already ratified the agreement, the two sides agreed to complete necessary procedural formalities to enforce the PTA without any further delay. The Iranian side offered to convene the next meeting of Pak-Iran Joint Trade Committee within three months. Both sides agreed to finalize the dates of the meeting through diplomatic channels. Both sides also agreed that the meeting of the commerce ministers of the two countries would be held in Tehran alongside the JTC meeting to discuss the agenda of the 15th Session of JEC. The Iranian side informed that with a view to expanding trade with Pakistan they had posted a new Commercial Consular at Karachi. Regarding use of Iranian Border Highway by Pakistan Customs, the Pakistan side requested the Iranian side to allow Pakistan Customs officials to use their border highway for operational purposes in times of emergency relating to anti-smuggling activities. The Iranian side agreed to refer the matter to the concerned authorities and convey their response shortly. Regarding border markets, under the MoU, the Iranian side informed that with a view to improving the living standards of border area inhabitants and to meet their daily use requirements, the Iranian Government had established border trade markets in Mirjaveh, Kohak and Pishin. They requested the Pakistan side to establish similar markets on their side, in front of the Iranian markets. About Joint Business Council (JBC) meeting, under the MoU, both sides agreed to hold the 4th Joint Business Council Meeting between Iran Chamber of Commerce, Industries and Mines and the Federation of Pakistan Chambers of Commerce and Industry from June 14-17 in Karachi. In order to expand economic and trade ties, Iran Chamber of Commerce, Industries & Mines expressed its readiness to conclude an MoU with FPCCI. On the proposal of Iran chamber, both sides agreed to exchange trade delegations and hold seminars in each other's country with a view to promoting bilateral trade. As Iran had been accorded the status of an observer in the WTO, the Pakistan side reiterated its continued support and offered technical assistance for facilitating Iran's accession to the WTO. The Pakistan side reiterated their concerns regarding increase in the import tariff for rice by Iran Government. In response the Iranian side agreed to consider this matter favorably and find ways of reducing tariff on rice imported to Iran through the Border Area Cooperatives. The Pakistan side requested that on the basis of principle of reciprocity the attestation charges for import/export documents should be eliminated or reduced. The Iranian side explained that the charges were according to rules and regulations and not specific to any country/goods. However, Iranian side promised to raise the issue with authorities concerned for consideration of the request positively. The Pakistan side repeated their request regarding elimination of additional surcharge of 1% of the total costs of the goods on the Iranian importers using Pakistan vehicles. The Iranian side raised the issue of signing of MoU between Iran International Exhibitions Company (IIEC) and the Export Promotion Bureau of Pakistan regarding facilitation for organizing international exhibitions in each other's country. Both sides emphasized the need for joint ventures and joint investments in the fields of automobile sector, oil and gas, petrochemicals, food processing and packaging, textile, leather industries, technical and engineering services and agreed to organize visits of business delegations and other promotional activities on sectoral basis to promote such cooperation. In order to facilitate joint ventures and investment in each other's country, both sides agreed to establish a Joint Working Group comprising officials from the Board of Investment of Pakistan and Iran Foreign Investment Company. The first meeting of the Joint Working Group would be held within next three months to streamline procedures for joint ventures and investments in each other's country by their respective private sector companies. Regarding road transportation, under the MoU both sides agreed to hold comprehensive transport meeting headed by the Minister of Road & Transportation of Iran and the Minister of Communications of Pakistan. It was decided that the agreement on International Transportation of passengers and goods between Iran and Pakistan would be discussed in detail in the meeting of the Joint Committee on Road Transportation issues scheduled to be held on May 30-31 in Zahedan. Upon the request of the Iranian side for Transit and Road Transportation via Pakistan's territory to people's Republic of China, Pakistan proposed to discuss this issue in the meeting of Joint Committee in Zahedan subject to signing and provision of the agreement. To organize the passenger transport between the two countries and cooperation of passenger transport companies of Iran and Pakistan, both sides agreed to review the issue during the meeting of the Joint Committee on Road Transportation. In order to facilitate visa issuance for vehicles' drivers, both sides agreed to discuss and ensure necessary follow-up in the meeting of Joint Committee on Road Transportation. About transportation, Iran proposed that in order to increase the flight frequencies, destination of the designated airlines and to have a direct flight between two capitals, a meeting between the Aviation authorities of the two sides be arranged as soon as possible.
