News ID: 266735
Published: 0130 GMT March 10, 2020

Pakistan, Iran to promote rail trade: Minister

Pakistan, Iran to promote rail trade: Minister

Railways Minister of Pakistan Sheikh Rasheed Ahmad said on Tuesday that further steps will be taken to promote trade between Iran and Pakistan via rail.

Talking to Iranian Ambassador to Pakistan Mohammad-Ali Hosseini in Islamabad, the minister invited a technical team from Iran to upgrade Quetta-Taftan section of the railway track, according to The Nation daily.

The two sides discussed bilateral issues during the meeting and agreed to improve measures to promote peace and brotherhood.

The Iranian ambassador expressed hope to restart Islamabad-Tehran-Istanbul container train, saying that it would also promote tourism and freight services.

Iran and Pakistan agreed in February to develop a mechanism for electronic exchange of bilateral trade data in a bid to curb misreporting.

Pakistan is a major destination of smuggled fuel from Iran where gasoline prices are among the lowest in the world.

On February 10, officials from Pakistan’s Federal Board of Revenue (FBR) and Iran Customs Administration signed a memorandum of understanding on electronic exchange of data.

Under the agreement, the two neighbors will trade documents on real time basis for exports of goods and advance information on goods and passengers at Taftan-Mirjaveh and other border stations.

FBR acting chairperson Nausheen Javaid Amjad said accurate valuation of the imported goods will lead to realization of greater revenues.

The implementation of the MoU will ensure availability of advance information about values, descriptions and quality of the goods to be imported into Pakistan from Iran and reduce costs on clearance of goods at the borders, she said.



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