ISLAMABAD: A meeting on Monday was held here in Ministry of Commerce to devise strategy to actively engage with Iran as there is a possibility of lifting of sanctions against Iran.
The meeting decided to negotiate the high tariffs imposed by Iran despite a Preferential Trade Agreement in place between Pakistan and Iran since September 1, 2006, said a statement issued here.
The issue of fluctuations and inconsistencies in tariffs from Iran during different phases of the year will also be brought forth during bilateral talks in order to provide a predictable tariff regime to Pakistani exporters.
The meeting was attended by officials from Federal Board of Revenue, State Bank of Pakistan and Trade Development Authority of Pakistan.
The meeting discussed the trade complementally of Pakistan with Iran and decided to actively pursue policies to enhance export of Pakistan’s agricultural products to Iran.
It was informed that during past ten years, 63 percent of Pakistan’s exports to Iran comprised rice and fruits and meat.
FBR was urged to clamp down stringent measures at border crossing points with Iran to curb smuggling as it costs the exchequer huge amount of revenues.
The meeting also deliberated upon measures to enhance rice exports to Iran which is among world’s largest importers of rice.
Under the PTA Pakistan has granted tariff concessions to Iran on 309 tariff lines while Iran has granted tariff concessions to Pakistan on 338 tariff lines.
Pakistan’s major sectors covered under the PTA are rice, fruits, cotton, cotton yarn, pharmaceutical products and cutlery.
Pakistan exported $43 million worth of items to Iran in 2014 while imported $186 million worth of items.
