Importance of Pakistan relationship for Iran in order to trade purposes?
Answers
Answer:
petrol , pakistan gets less expensive petrol from iran
Answer:
Free Trade Agreement Edit
In 2005, Iran and Pakistan had conducted US$500 million of trade. The land border at Taftan is the conduit for trade in electricity and oil. Iran is extending its railway network towards Taftan.
The Iran-Pakistan-India pipeline (IPI Pipeline) is currently under discussion; though India backed out from the project. The Indian government was under pressure by the United States against the IPI pipeline project, and appears to have heeded American policy after India and the United States proceeded to sign the nuclear deal. In addition, the international sanctions on Iran due to its controversial nuclear program could also become a factor in derailing IPI pipeline project altogether.
Trade between the two countries has increased by £1.4 billion in 2009.[86] In 2007–08, annual Pakistan merchandise trade with Iran consisted of $256 million in imports and $218.6 million in export, according to WTO.[87]
Bilateral trade Edit
On 12 January 2001, Pakistan and Iran formed a "Pakistan-Iran Joint Business Council" (PIJB) body on trade disputes.[88] The body works on to encourage the privatization in Pakistan and economic liberalization on both sides of the countries.[88] In 2012, the bilateral trade exceeded $3 billion.[89] Official figures from the State Bank of Pakistan for fiscal year 2011–12 indicate imports of $124 million and exports of $131 million, which had collapsed to $36 million of exports to Iran and less than $1 million of imports for the year to April 2015. In 2011, the trade between Iran and Pakistan stood at less than $1 billion and the common geographical borders as well as religious affinities are among other factors, which give impetus to enhanced level of trade.[89] According to the media reports, Iran is the second-largest market of Basmati rice of Pakistan, ranking after Iraq.[90]