Iranian Foreign Minister Manouchehr Mottaki said Wednesday that Iran is ready to provide 100 megawatt electricity to Pakistani southwestern port of Gwadar and to open a bank branch of its national bank in Karachi.

Speaking at the opening of the 16th Pak-Iran Joint Economic Commission (JEC) in Islamabad, the Iranian foreign minister called for enhancing trade and inter-bank relations, improving port, rail and road connectivity between Pakistan and Iran, a statement said.

Mottaki said trade between the two countries can be enhanced manifold by taking various measures including avoidance of double taxation and tariff reduction besides controlling smuggling and enhancing security cooperation.

Both countries have great potential to expand their cooperation in various fields but have not yet been realized so far, said Dr. Salman Shah, Advisor to Pakistani Prime Minister on Finance, who is leading Pakistani delegation at the meeting.

Shah proposed to simplification of visa procedure, removal of tariff barriers, improvement in attestation of documents and increase in fruit and rice export from Pakistan in order to ensure trade balance between the two countries.

The Pakistani official also proposed a special committee to discuss cooperation between private sectors of the two countries to enhance trade and investment links.

Source: Xinhua