Pak, Iran to expand cooperation in trade, economy

[Edevelop]

ISLAMABAD: Pakistan and Iran on Monday once again reiterated to expand the volume of bilateral trade, economic and bilateral ties, arguing with the world community to open trade with Iran on humanitarian goods.


The two sides expressed their resolve in the 19th meeting of the Pakistan-Iran Joint Economic Commission which was commenced here on Monday with Federal Minister for Finance Senator Mohammad Ishaq Dar and the Iranian Minister for Economic Affairs & Finance, Dr. Ali Taieb Nia chairing the inaugural session. The meeting shall conclude tomorrow.


Before the formal inauguration of the session, both the Ministers had a meeting along with their respective delegations and resolved to take the economic relations a step further particularly focusing on trade promotion.


In his formal inaugural speech, the Finance Minister Ishaq Dar said, “the top leadership of both the countries is serious in taking the relationship to a new level; we have endeavored to materialize what our leadership feels. We will not only try to expand the existing trade, economic and bilateral ties in other areas but also make efforts to stabilize them.”


Regarding the sanctions against the brotherly Islamic country, Finance Minister Ishaq Dar said we support Iran on the International fora and argue with the world community to open trade with Iran on humanitarian goods. “At least export of food items to the friendly country should be on till the sanctions are relaxed”, the Minister added.


The Iranian Minister for Finance reciprocated the feelings and said that he was pleased to be in Pakistan to lead his side at the 19th JEC. He once again reiterated expansion in volume of trade between the countries in his address. He also expressed resolve to cooperate with Pakistan in the areas of energy import, transport and communication, mining, agriculture, health and banking sector development, through a comprehensive framework agreement.


During the technical session that started soon after adoption of agenda in the presence of both the Ministers, is set to take up the main items for discussion including review of the bilateral trade and proposals for its enhancement, review of tariff and non-tariff barriers hampering bilateral trade, opening of bank branches, revitalization of joint business council, visa facilitation for businessmen of Pakistan and lifting of ban on the import of fruits from Pakistan.


Ministry of finance in a press statement on Monday said that the JEC would take up the issue of banking problems with Iran due to sanctions imposed by US and UN etc on Tuesday. There would also be discussion on Iran Pakistan gas pipeline project (to expedite its implementation), up gradation of Quetta-Taftan railway track and improvement of Noshki-Dalbandin section of N-40 Highway on the second day of JEC meeting.


On the Import of Energy from Iran, both the sides will discuss:


n The import of 74MW power from Iran for Makran Division, Balochistan,


n Import of 100 MW from Iran to Gwadar,


n Import of 1000MW of electricity from Iran for Balochistan and the national grid.


Finance Ministry further said that discussion would also be held on pending MOUs and it was expected that out of the 12 MOUs under consideration four would be signed between the two countries during the current JEC.


It is worth mentioning that both sides have decided that a press briefing would be arranged on 9th of December after conclusion of the 19th JEC to announce the decisions taken in the meeting.

Pak, Iran to expand cooperation in trade, economy

 

[WaLeEdK2]

What's the news on the Iran - Pakistan pipe line?

 

[Edevelop]

What's the news on the Iran - Pakistan pipe line?

Iran waives off penalty on delay

ISLAMABAD: Iran has waived off penalty over delay in construction of Iran-Pakistan (IP) Gas Pipeline and also extended the time limit for the construction of the project, while Pakistan has now decided to construct the gasline by next year.


Sources in the petroleum ministry told Daily Times that Iranian Minister for Economic Affairs & Finance, Dr. Ali Taieb Nia on Monday met with Minister for Petroleum and Natural Resources Shahid Khaqqan Abbasi and conveyed the decision of Iranian government regarding IP gas pipeline project. Iranian Minister informed Shahid Khasqqan Abbasi that Iran has been extending the time limit for the construction of IP gasline project and waiving off the penalty worth $3 million/daily, which was due on Pakistan from 1st January 2015 for not constructing the gasline in time. Similarly, Pakistan was bound to purchase Iranian gas by January 2015 under the agreement.
They also told that Pakistan has decided to construct IP gasline by the next year and a Chinese firm would construct the gas pipeline with 85 percent loan. Pakistani official would hold a meeting with a Chinese firm for the construction of gasline today in Gawadar, they added. In a press statement, Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi has said that Iran-Pakistan Gas Pipeline Project was vital for the Pakistan’s energy needs and Government of Pakistan was fully committed to complete this project. He said this while talking to an Iranian delegation led by Dr. Ali Taieb Nia, Iranian Minister for Economic Affairs and Finance, who called the Minister in Islamabad on Monday.
Shahid Khaqan Abbasi said that due to the international sanctions on Iran, Pakistan has been unable to complete projects on its side. Despite our best efforts banks, International contractors and equipment suppliers were not ready to be involved in this project. This Minister told the visiting delegation that we were now planning to complete this project in two steps; first, we are installing LNG terminal at Gawadar Port and secondly a 42” pipeline of 700 KM length would be laid from Gawadar to Nawabshah for onward transmission of gas to the northern parts of the country. He informed the delegation that Pakistan was in negotiations with Chinese Companies, for construction of this pipeline and the 70 KM portion of the pipeline from Gawadar to Iran border would be completed by Pakistani companies. He hoped that this project would start in the near future. The Minister also stated that Pakistan wanted to increase bilateral trade and economic ties with Iran not only in Oil and gas sector including LPG petro chemicals and fertilizers but in other fields of the economy as well. Shahid Khaqan Abbasi mentioned that Pakistan’s annual oil imports bill was $ 15 billion but direct oil trade between Iran and Pakistan was negligible and said that we expected this trade to increase substationally after the sanction issue was closed.
On this occasion Dr. Ali Taieb Nia, Iranian Minister for Economic Affairs and Finance said that Iran has already completed its part of the Iran-Pakistan Gas Pipeline Projects and hoped that in near future Pakistan would also fulfill its commitment to complete its part of the project. He expressed his desire the Iranian gas should flow in to Pakistan soon so that Pakistan may be able to overcome its energy shortfall. The Iranian Minister informed that Iran’s negotiations with the international community on nuclear issue have been successful and hoped that the applicable sanctions will be removed very soon. He further expressed his hope that with the removal of international sanctions Iran’s trade volume and economic relations with its neighbors would further improve. He also said that Iran has great potential to export Petro-chemical products, electricity, and fertilizer and offered Pakistan to benefit from these opportunities available in its neighborhood.

IP pipeline construction: Iran waives off penalty on delay

 

[Umair Nawaz]

ISLAMABAD: Pakistan and Iran on Monday once again reiterated to expand the volume of bilateral trade, economic and bilateral ties, arguing with the world community to open trade with Iran on humanitarian goods.


The two sides expressed their resolve in the 19th meeting of the Pakistan-Iran Joint Economic Commission which was commenced here on Monday with Federal Minister for Finance Senator Mohammad Ishaq Dar and the Iranian Minister for Economic Affairs & Finance, Dr. Ali Taieb Nia chairing the inaugural session. The meeting shall conclude tomorrow.


Before the formal inauguration of the session, both the Ministers had a meeting along with their respective delegations and resolved to take the economic relations a step further particularly focusing on trade promotion.


In his formal inaugural speech, the Finance Minister Ishaq Dar said, “the top leadership of both the countries is serious in taking the relationship to a new level; we have endeavored to materialize what our leadership feels. We will not only try to expand the existing trade, economic and bilateral ties in other areas but also make efforts to stabilize them.”


Regarding the sanctions against the brotherly Islamic country, Finance Minister Ishaq Dar said we support Iran on the International fora and argue with the world community to open trade with Iran on humanitarian goods. “At least export of food items to the friendly country should be on till the sanctions are relaxed”, the Minister added.


The Iranian Minister for Finance reciprocated the feelings and said that he was pleased to be in Pakistan to lead his side at the 19th JEC. He once again reiterated expansion in volume of trade between the countries in his address. He also expressed resolve to cooperate with Pakistan in the areas of energy import, transport and communication, mining, agriculture, health and banking sector development, through a comprehensive framework agreement.


During the technical session that started soon after adoption of agenda in the presence of both the Ministers, is set to take up the main items for discussion including review of the bilateral trade and proposals for its enhancement, review of tariff and non-tariff barriers hampering bilateral trade, opening of bank branches, revitalization of joint business council, visa facilitation for businessmen of Pakistan and lifting of ban on the import of fruits from Pakistan.


Ministry of finance in a press statement on Monday said that the JEC would take up the issue of banking problems with Iran due to sanctions imposed by US and UN etc on Tuesday. There would also be discussion on Iran Pakistan gas pipeline project (to expedite its implementation), up gradation of Quetta-Taftan railway track and improvement of Noshki-Dalbandin section of N-40 Highway on the second day of JEC meeting.


On the Import of Energy from Iran, both the sides will discuss:


n The import of 74MW power from Iran for Makran Division, Balochistan,


n Import of 100 MW from Iran to Gwadar,


n Import of 1000MW of electricity from Iran for Balochistan and the national grid.


Finance Ministry further said that discussion would also be held on pending MOUs and it was expected that out of the 12 MOUs under consideration four would be signed between the two countries during the current JEC.


It is worth mentioning that both sides have decided that a press briefing would be arranged on 9th of December after conclusion of the 19th JEC to announce the decisions taken in the meeting.

Pak, Iran to expand cooperation in trade, economy

@Irfan Baloch see what i told u........our strategists are now thinking differently. What needs to be ensured is that we keep on thinking this way since now we are afterall democracy. That Mushy's works are now showing their results (NCA) if u know what i mean.

 

[SOHEIL]

 

[FaujHistorian]

ISLAMABAD: Pakistan and Iran on Monday once again reiterated to expand the volume of bilateral trade, economic and bilateral ties, arguing with the world community to open trade with Iran on humanitarian goods.


The two sides expressed their resolve in the 19th meeting of the Pakistan-Iran Joint Economic Commission which was commenced here on Monday with Federal Minister for Finance Senator Mohammad Ishaq Dar and the Iranian Minister for Economic Affairs & Finance, Dr. Ali Taieb Nia chairing the inaugural session. The meeting shall conclude tomorrow.


Before the formal inauguration of the session, both the Ministers had a meeting along with their respective delegations and resolved to take the economic relations a step further particularly focusing on trade promotion.


In his formal inaugural speech, the Finance Minister Ishaq Dar said, “the top leadership of both the countries is serious in taking the relationship to a new level; we have endeavored to materialize what our leadership feels. We will not only try to expand the existing trade, economic and bilateral ties in other areas but also make efforts to stabilize them.”


Regarding the sanctions against the brotherly Islamic country, Finance Minister Ishaq Dar said we support Iran on the International fora and argue with the world community to open trade with Iran on humanitarian goods. “At least export of food items to the friendly country should be on till the sanctions are relaxed”, the Minister added.


The Iranian Minister for Finance reciprocated the feelings and said that he was pleased to be in Pakistan to lead his side at the 19th JEC. He once again reiterated expansion in volume of trade between the countries in his address. He also expressed resolve to cooperate with Pakistan in the areas of energy import, transport and communication, mining, agriculture, health and banking sector development, through a comprehensive framework agreement.


During the technical session that started soon after adoption of agenda in the presence of both the Ministers, is set to take up the main items for discussion including review of the bilateral trade and proposals for its enhancement, review of tariff and non-tariff barriers hampering bilateral trade, opening of bank branches, revitalization of joint business council, visa facilitation for businessmen of Pakistan and lifting of ban on the import of fruits from Pakistan.


Ministry of finance in a press statement on Monday said that the JEC would take up the issue of banking problems with Iran due to sanctions imposed by US and UN etc on Tuesday. There would also be discussion on Iran Pakistan gas pipeline project (to expedite its implementation), up gradation of Quetta-Taftan railway track and improvement of Noshki-Dalbandin section of N-40 Highway on the second day of JEC meeting.


On the Import of Energy from Iran, both the sides will discuss:


n The import of 74MW power from Iran for Makran Division, Balochistan,


n Import of 100 MW from Iran to Gwadar,


n Import of 1000MW of electricity from Iran for Balochistan and the national grid.


Finance Ministry further said that discussion would also be held on pending MOUs and it was expected that out of the 12 MOUs under consideration four would be signed between the two countries during the current JEC.


It is worth mentioning that both sides have decided that a press briefing would be arranged on 9th of December after conclusion of the 19th JEC to announce the decisions taken in the meeting.

Pak, Iran to expand cooperation in trade, economy

These are just dreams until iran is under international sanctions.

 

[saiyan0321]

Good step as we need iran since its our neighbor and on top of it all is a natural reserve power house. We can utilize their desperation in sanctions and get some cheap deals but that would require a kind of govt that can say no to america and arabia and we just dont have that. India is currently cashing it in while we have struggled with one pipeline.
Iran is a great opportunity for us as we are neighbors and we need friendly neighbors since afghanistan is not hot on us and the less said about india the better. With iran as our ally we can head towards a more stable and improved pakistan and not too mention getting good deals for their power reserves/

 

[FaujHistorian]

Good step as we need iran since its our neighbor and on top of it all is a natural reserve power house. We can utilize their desperation in sanctions and get some cheap deals but that would require a kind of govt that can say no to america and arabia and we just dont have that. India is currently cashing it in while we have struggled with one pipeline.
Iran is a great opportunity for us as we are neighbors and we need friendly neighbors since afghanistan is not hot on us and the less said about india the better. With iran as our ally we can head towards a more stable and improved pakistan and not too mention getting good deals for their power reserves/

Planning to loot your brother who is under sanctions.

Bad very bad.

Oh bhai Jaan

you cannot pay Iran.

Understand?

you cannot pay them if you buy potatoes from them. you cannot pay.

 

[saiyan0321]

Planning to loot your brother who is under sanctions.

Bad very bad.

Oh bhai Jaan

you cannot pay Iran.

Understand?

you cannot pay them if you buy potatoes from them. you cannot pay.

Yeah we have played the brother card and that has only yielded negative results for us. Its time we become selfish and look out for pakistan so yeah looting the brother under sanctions to get better deals is the way to go bcz its beneficial for pakistan and that should be our only concern. That is how you survive in international politics.

Yes we cant pay iran bcz we take foreign Aid and are reliant on countries like UK and USA and world banks for money to run the country however i am sure a pipe line wont turn things worse for pakistan and that pipe line will only end up helping us not to mention as i said we can negotiate on our terms since barely any country deals with them and can get much better and more economical deals.

 

[FaujHistorian]

....
Yes we cant pay iran bcz we take foreign Aid and are reliant on countries like UK and USA and world banks for money to run the country ....

Even if we didn't, for a country of our size, we could not pay Iran.

Please understand the nature of international sanctions before posting.

 

[saiyan0321]

Even if we didn't, for a country of our size, we could not pay Iran.

Please understand the nature of international sanctions before posting.

I do understand it and to continuously pay iran for gas pipe line we would need a more stable economy especially when we will have america and many anti-iran countries who pay us Aid at our backs however we need that gas more than ever and the pipeline was a great step forward and not to mention we can sell that gas forward to china who actually showed willingness to be a part of that deal however we need to take such steps to reach that stable economy and finally go forward/ When we ourselves our energy starved, to ignore a highly potential neighbor who wants to import that energy seems like a foolish move.

 

[FaujHistorian]

I do understand it and to continuously pay iran for gas pipe line we would need a more stable economy especially when we will have america and many anti-iran countries who pay us Aid at our backs however we need that gas more than ever and the pipeline was a great step forward and not to mention we can sell that gas forward to china who actually showed willingness to be a part of that deal however we need to take such steps to reach that stable economy and finally go forward/ When we ourselves our energy starved, to ignore a highly potential neighbor who wants to import that energy seems like a foolish move.

Again!

iran is not giving free. Charges the same (if not higher) price for the gas.

Please read the prrice quoation.


LNG is much better option. As it keeps from getting locked into long term deals.

 

[saiyan0321]

Again!

iran is not giving free. Charges the same (if not higher) price for the gas.

Please read the prrice quoation.


LNG is much better option. As it keeps from getting locked into long term deals.

ofcourse they are not giving it free however irans desperation was visible during 2013 when it was desperate to start the process especially offering price reduction and even offered to build our side of the pipe line however to this day has been ignored. The thing is how you deal with iran however obviously if you cant make a profitable deal then ofcourse its best scrapped. LNG wont fulfill the gas requirement that pakistan desperately needs right now as the industry needs it, the power sector needs it and the domestic users of a 19 million having country needs it. We need deals like TAPI and IP. I remember reading an article in 2012 about how both of these deals combined still wont fulfill the gas requirement in Pakistan.

 

[FaujHistorian]

ofcourse they are not giving it free however irans desperation was visible during 2013 when it was desperate to start the process especially offering price reduction and even offered to build our side of the pipe line however to this day has been ignored. The thing is how you deal with iran however obviously if you cant make a profitable deal then ofcourse its best scrapped. LNG wont fulfill the gas requirement that pakistan desperately needs right now as the industry needs it, the power sector needs it and the domestic users of a 19 million having country needs it. We need deals like TAPI and IP. I remember reading an article in 2012 about how both of these deals combined still wont fulfill the gas requirement in Pakistan.

Iran wants as many sanction busters as possible.

Not happening. Iranian mullahs need to change their ways. Get out of sanctions.


Then trade with anyone they like including Pak.


Right now any talk of doing trade with Iran is

like giving rishta of your son or daughter to a criminal who is locked up in jail.

let me see if your family will be happy if you made such decision.

 

[haviZsultan]

I think we should for once ignore US sanctions and develop a relationship with Iran. Iran is perhaps the only country today that is independent of the USA. Anyone that weak and willing to glare down the US deserves to be respected. I have noticed a lot of Pakistanis eager for good relations with Iran but not many Iranians wishing to do the same.

We being under the US umbrella has also caused problems. They do not trust us enough. I think we should end our dependence on the USA and work to establish a nation that is independent and strong. US has been the highest supplier of weapons to India for the last 5 years so why shouldn't we look at new options? US betrays us constantly. Its time for us to tae things in perspective before their is a repeat of the Presler amendment.

Wheat and rice are the things we export to Iran and make up 60% of our exports to it.