United Business Group welcomes lifting of trade sanctions on Iran

Karachi, January 19, 2016 (PPI-OT): In a joint statement by UBG leaders S.M. Munir, Patron-in-Chief, Zubair Tufail, Secretary General, Gulzar Firoz, Chief Spokesman, Senator Abdul Haseeb Khan, Zubair Malik, former President FPCCI, Abdul Rahim Janoo, Former Senior Vice President, S.M. Naseer, Mumtaz Shaikh and Dr. Ikhtiar Baig, former Vice Presidents welcome the lifting of trade sanctions on Iran. They said that this will lead increase in trade between Pakistan and Iran. They said that not only the trade will increase but the gas line between Pakistan and Iran will now be completed at quicker pace. They said that with the lifting of sanctions now Pakistan and Iran can officially trade and will be able to send and receive remittances directly. They hoped that very soon both countries will be able to open bank branches for easy transactions.

Pakistan can increase its export of textile, leather and rice etc. whereas Iran can increase export of oil and petro based chemical to Pakistan and hoped that trade of Pakistan and Iran can reach US$ 1.5 billion.

UBG leaders also welcomed the visit of Prime Minister, Mian Muhammad Nawaz Sharif and Chief of Army Staff, General Raheel Sharif to Saudi Arabia and Iran for mediation and to play Pakistan’s active role to reduce tension between two countries. Both countries are Pakistan’s great friends and therefore this visit is very important.

Trade bodies like Federation of Pakistan Chambers of Commerce and Industry should now explore the possibilities of increase trade with Iran and should send delegations to Iran for exploring the market.

For more information, contact:
United Business Group (UBG)
Room No: 203, Second Floor,
Aiwan-e-Sanat Plot No.ST-4/2, Sector 23,
Korangi Industrial Area, Karachi, Pakistan
Tel: +92-21 35062200
Cell: +92-321-8261426