Members of the Quetta Chamber of Trade and Industry in western Pakistani province of Baluchistan made the request in a meeting with visiting Assistant to the Iranian Foreign Minister Rasoul Mousavi on Saturday, during which they called on Pakistani and Iranian authorities to open a banking channel between the neighboring countries to facilitate bilateral trade.
Although the central banks of Iran and Pakistan signed a financing deal in 2017, the banking problems between the two countries are still hindering developing bilateral trade.
Most part of Iranian-Pakistani trade is conducted through land, especially through Mirjava (Taftan) border crossing, with residents of Iran’s Sistan and Baluchistan province and Pakistan’s Baluchistan state contributing significantly to the development of trade and economic cooperation between the two neighboring countries.
The opening of the banking channel and Letter of Credit (LC) are a serious concern for both countries' businesspersons. Recently Pakistani businessmen in Baluchistan state have urged Iran's and Pakistan authorities to take basic steps to launch a banking channel.
KI/IRN83336677
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