Iranian signs MOU with PBIT

Lahore:In the efforts to boost bilateral and economic ties, the Punjab Government and Punjab Board of Investment & Trade signed MoUs for formalizing collaborative efforts to identify areas of common interests with the Iranian Province Fars and Trade Union of Shiraz Chamber of Commerce & Industries and Mines respectively. The MoU signing is in connection with The Iran Fair, organized by PBIT which starts from 31st May to 2nd June 2012.

Speaking on this occasion Governor Fars Hossein Sadegh Abideen said that Iranian Businessmen held comprehensive and useful talks with business community of Punjab and there is a vast scope of investment for Iranian Businessmen in Punjab. He said that Punjab can benefit from Iranian expertise in Slaughter house, Dairy and Juice industry, while Iran can benefit from Pakistan’s textile infrastructure.

Sardar Zulfiqar Khosa said that this day marks as one of the landmarks in the journey which started with the establishment of a Joint Working Group (JWG) to steer the economic and socio-cultural collaboration between the two provinces of Punjab and Khorasan in June, 2009.

Vice Chairman PBIT Dr. Miftah Ismail, on this occasion said that the two economies can perfectly complement each other, in that, Iran possesses a rich energy base while Pakistan is an energy deficient country, and Pakistan is food exporter while Iran remains a net food importer.

Meanwhile, the three day Iran Fair 2012, organized by PB IT was inaugurated with zeal and zest at the Lahore Expo centre today. The Chief Guest, Deputy Governor Khorasan-e-Razavi, Abbas Nihawand thanked PBIT for organizing the first ever Single country exhibition in Lahore. He said that Khorasan e Razavi wishes to strengthen its social, cultural, bilateral and economic ties with Punjab and the same is being strongly endorsed by the President of Iran Mahmoud Ahmadinejad, in this connection the next single country exhibition is scheduled to be held in Mashhad, Iran.

Sardar Zulfiqar Khan Khosa, in his address said that Pakistan and Iran both being members of the Economic Cooperation Organization (ECO) have a significant potential for a better economic partnership. He said economic sectors such as energy, health, education, tourism, agriculture, dairy and livestock present a much wider scope for expansion.

Vice Chairman PBIT, Dr. Miftah Ismail said that he was hopeful that the efforts of Punjab Government towards a better economic partnership with Iran and events like the Iran Fair prove helpful in the way of business community of both sides to find and explore better ways for trade and Investment.