Junaid Naqi, president of the Korangi Association of Trade and Industry (KATI), has emphasized that trade between Iran and Pakistan could reach up to $10 billion, a significant increase from the current bilateral trade volume of $2.4 billion. However, Naqi pointed out that Pakistan’s share of the existing trade volume is one-third less than anticipated.
He highlighted the impressive performance of Iran’s trade, which surpassed $100 billion despite global sanctions, underscoring the potential for further collaboration between the neighboring countries. Naqi shared these remarks during a meeting with an Iranian trade delegation, led by Jafar Allavardiha, Chairman of the Qazvin Chamber of Commerce, Industry, Mines and Agriculture, and Morad Nemati, Commercial Attaché of the Iranian Consulate. The event was also attended by KATI’s Senior Vice President Ijaz Sheikh, Standing Committee Chairman Rashid Siddiqui, former Chairman Gulzar Feroze, and various members of the Iranian delegation, including Mahdi Jabbari, Wahid Asghar, Ahmad Shayan, Mostafa Jafari, Sepehrnejad, Ataollah Alijani, Amir Shahmohammadi, Mohsen Rezaei, Seyed Amir Mohammad Katibi, Esmaeil Ghafouri, Amir Hossein Mostafazadeh, Hasnain Homai and others.
Naqi emphasized the historical and strategic importance of Pakistan’s relationship with Iran, noting that Iran was the first country to recognize Pakistan after its independence. He also pointed out the vast opportunities available in key sectors, such as textiles, pharmaceuticals, leather, and food products, where trade volumes can be increased significantly.
Naqi announced that a trade delegation from KATI will participate in the Iran Expo 2025. He also invited Pakistani exporters and industrialists to engage more actively with Iranian counterparts, offering full support and guidance. “KATI represents a major industrial zone in Pakistan, home to top exporters who are ready to assist Iranian investors,” he stated.
Jafar Allavardiha, Chairman of the Qazvin Chamber, noted the significant trade opportunities between the two countries, citing Iran’s cheap energy resources and Pakistan’s strategic access to the Middle Eastern market due to low transportation costs.
Morad Nemati, the Iranian Commercial Attaché, encouraged Pakistani traders to take advantage of Iranian products at competitive prices. He assured the business community of full support from the Iranian Consulate in facilitating participation in the Iran Expo and promoting trade with Iran. Additionally, Nemati assisted KATI’s industrialists in identifying and capitalizing on trade opportunities in Iran.
Rashid Siddiqui, Chairman of KATI’s Standing Committee, expressed optimism about opening new access to Iranian markets, anticipating that Iran will soon become a major global trade hub. He stressed the importance of cooperation between both countries’ leadership to overcome trade barriers and suggested that barter trade could be a quick avenue to boost bilateral trade. Siddiqui also highlighted the support offered by the Iranian Consulate in helping Pakistani investors participate in the Iran Expo, with incentives for exhibitors and facilities for accommodation and business-to-business meetings.
Caption: KATI President Junaid Naqi presenting a shield to the head of the Iranian trade delegation, Jafar Allavardiha, Iranian Commercial Attaché Morad Nemati, Ijaz Ahmad Sheikh, Ikram Rajput, Rashid Siddiqui and others are also present.
