12 September 2017 - 15:00

Iran and Pakistan to Establish Credit Line with Value of 500mn Euros

Mohammad Nahavandian says by next three months a credit line between central banks of Iran and Pakistan will be established with the value of 500 million euros as well as opening the bank branches in territories of two countries.
News ID : 74799

Mohammad Nahavanian,Vice President for Economic Affairs, on his meeting with Foreign Affairs of Pakistan's Minister, Khaje Mohammad Asef,  emphasized the necessity of taking the fastest steps in banking and transportation spheres between two nations, adding we should boost our economic ties.

Vice President for Economic Affairs stressed the current situation of the region necessitates more cooperation between Iran and Pakistan in security area and developmental region.

He made the remarks that although our trade volume has increased by 35 percent, in post-sanction atmosphere we need an economic jump to achieve the volume of 5 billion euros in trade interactions.

Nahavandian voiced the establishment of bilateral 500 mn euros-credit line and opening bank branches will be done in next 3-month by two countries' central banks. He noted that establishing a passenger and cargo shipping line between Chabahar and Kerachi ports and also direct flight between two countries can extend long-term collaborations between Iran and Pakistan.

 Terrorism recruits unemployed young people by distorting religion culture, so military and political counteractions are essential, if we have want to combat extremism basically, we need to have simultaneous cooperation together in culture and economy fields, continued the official.

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