Pak ex-envoy urges govt to pursue stronger trade ties with Iran

Islamabad, Feb 5, IRNA -- Former Pakistani ambassador to Iran strongly believes that the government of Pakistan should enhance trade ties with Iran and remove all hurdles in this regard. In an interview with the Islamic Republic News Agency (IRNA), Asif Ali Khan Durrani said that Pakistan like Europe should develop a proper payment mechanism system with Iran which could boost trade between the two neighbors. On January 31, German, British and French foreign ministers in a news meeting in Bucharest officially announced registration of the European special financial mechanism known as the Instrument in Support of Trade Exchanges (INSTEX). Asif Ali Khan Durrani termed the launching of INSTEX between Iran and Europe as a positive development. “This shows that European countries are standing by the Joint Comprehensive Plan of Action (JCPOA) agreement,” said the expert. Former ambassador was of the view that the INSTEX should work to the advantage of both Iran and all those European countries which want to do business with Iran. The analyst said that this mechanism will definitely have positive impact elsewhere in trade between Iran and other countries. Asif Ali Khan Durrani says that Pakistan should do business with Iran whether Europe or not. “I am an ardent supporter of conducting economic relations with Iran but of course I also realize that our banking system is dollar based which is causing problems right now for transactions,” he said. The diplomat added Pakistan can have another mechanism like currency swap to pursue economic ties with Iran. “I am sure that the government of Pakistan would be looking at different options to enhance trade ties with Iran,” said the ex-ambassador in Tehran. Follow us on Twitter @IrnaEnglish