The Memorandum of Understanding to expand business cooperation between Iran and Pakistan with the aim of increasing trade between the two countries through the exchange of information, participation in each other's business events, exchanging trade delegations and holding training programs and exchanging experts, signed by Alireza Peyman Pak, head of the Trade Development Organization of the Islamic Republic of Iran and Mohammad Zubair Motiwala, CEO of the Pakistan Trade Development Organization.
According to the memorandum, which was signed on the sidelines of the opening of the Islamic Republic of Iran's exclusive exhibition in Karachi, Pakistan, the parties pledged to exchange business information, provide terms and background the presence of trade delegations in the opposite country and the acceptance of trade delegations from the other.
It has also been decided that whenever one of the parties to the agreement organizes an exhibition in the other country, the host country will support these exhibitions by publishing information and encouraging interested companies.
This document facilitates and expedites various areas of trade and economic cooperation between the two countries.
During the signing ceremony of this memorandum, Alireza Peyman Pak, Deputy Minister of Peace and Head of the Iranian Trade Development Organization, explained the trade performance of the two countries and announced the objective of exporting 5 billion dollars in a short period of time.
He regarded holding exclusive exhibitions and exchanging business delegations and investing in joint production units as a basis for mutual understanding of each other's capabilities and needs and expressed the hope that such events would continue.
By stating the existence of certain infrastructure obstacles and problems, including financial banking relations, maritime transport and logistics, and the question of tariffs, he announced the Iranian government's willingness to solve these problems in the shadow of an interaction with the Pakistani government.
Mohammad Zubair Motiwala, CEO of Pakistan Trade Development Organization, spoke about the Pakistani government's determination and serious interest in developing trade with Iran.
Hailing Iran's unique progress, he announced his serious determination to overcome monetary and banking sanctions in the face of developing trade relations between the two countries and explained alternative solutions.
During the signing ceremony of this document, a large number of Pakistani and international media and more than 200 Iranian and Pakistani businessmen were present.