Federal Minister for Board of Investment (BOI), Mr. Qaiser Ahmed Sheikh, held a comprehensive meeting with a high-level Iranian business delegation, accompanied by officials from the Embassy of Iran. The meeting focused on strengthening bilateral trade, exploring joint investment opportunities, and enhancing economic collaboration between Pakistan and Iran.
The Iranian delegation included prominent representatives such as Mr. Mohammad Reza Chafarallahi, Chairman of Trade Facilitation & Development, Mr. Shahrooz Shariat, and members of the Chambers of Commerce of Kerman and Tehran. Senior officials from BOI, including Director General Mr. Mehmood Tufail, also attended the meeting.
The Federal Minister warmly welcomed the delegation and emphasized the deep-rooted historical, cultural, and religious ties between Pakistan and Iran, describing both countries as brotherly neighbors with immense untapped economic potential. He noted that Pakistan, with a market of over 250 million people, offers significant opportunities for trade and investment.
The Iranian delegation highlighted the economic importance of Kerman province, which hosts four economic zones and a Chamber of Commerce comprising over 2,000 members. They shared that Kerman is a leading region in mining, contributes approximately 25 percent to agriculture, and is globally recognized for its production of pistachios and dates.
During the meeting, the Iranian side proposed the development of a strategic trade corridor linking Karachi, Rimdan, Bam, and potentially extending to Chabahar. They suggested that a joint investment venture for this route could significantly enhance connectivity and expand trade routes between the two countries. The proposal was acknowledged as a promising opportunity to boost regional trade and logistics integration.
The delegation also underscored the growing trade relationship between the two countries, noting that Pakistan’s exports to Iran have increased for the first time in history. They expressed strong interest in further strengthening trade ties and informed that numerous Pakistani businessmen have already visited Kerman, where over 1,000 business meetings have been conducted, laying the groundwork for future collaboration.
Mr. Shahrooz Shariat highlighted opportunities in the rice trade, stating that Iran requires approximately 3 million tons of rice annually, out of which 2 million tons are produced domestically while 1 million tons are imported. He noted that Pakistan’s share in Iran’s rice imports has increased to around 40 percent and identified areas where trade processes can be further improved to enhance exports.
The Federal Minister emphasized the potential for joint ventures, particularly in sectors such as rice processing, petrochemicals, steel, engineering services, and auto parts. Drawing on successful models, including joint ventures with Malaysia in rice processing, he encouraged similar partnerships with Iranian counterparts.
Given existing banking and sanction-related challenges, the Minister proposed the use of barter trade mechanisms to facilitate bilateral commerce. He highlighted opportunities for exchanging commodities such as rice and chemicals, noting that such arrangements could help sustain and expand trade despite external constraints.
The Minister also shared his personal experience of visiting Iran multiple times and engaging in business with Iranian partners, reflecting his familiarity with the market and cultural affinity, including his interest in Persian language and literature.
The discussion further explored collaboration in engineering services, including testing, inspection, and certification. The Minister noted that Pakistani institutions, such as the Pakistan Standards and Quality Control Authority (PSQCA), can support certification requirements, enabling joint ventures with international companies and facilitating compliance with regulatory standards.
The Iranian delegation appreciated the Government of Pakistan’s facilitation efforts and extended an invitation to the Federal Minister and BOI leadership to visit Iran to further strengthen institutional and business linkages. The Minister welcomed the invitation and informed that a visit to Iran is already under consideration as part of ongoing efforts to promote economic diplomacy.
The meeting also took place in the broader context of increasing bilateral engagement, including the ongoing visit of the Iranian Minister of Trade to Pakistan, meetings with Pakistan’s Commerce Minister, and the activation of the Joint Trade Committee.
Director General BOI, Mr. Mehmood Tufail, thanked the delegation for their visit and reiterated BOI’s commitment to facilitating investors. He emphasized the shared vision of enhancing trade and investment between the two countries and strengthening economic cooperation based on mutual benefit.
The Federal Minister concluded by reaffirming that the Board of Investment remains fully committed to facilitating foreign investors, promoting joint ventures, and unlocking the vast economic potential between Pakistan and Iran.
