Sunday, August 29, 2004

Pakistan-Iran agree to enhance trade volume in steel industry

Pakistan-Iran agree to enhance trade volume in steel industry - PakTribune: "Pakistan-Iran agree to enhance trade volume in steel industry
Sunday August 29, 2004 (1345 PST)

TEHRAN, August 30 (Online): Iran will provide technical assistance of experts to Pakistan in the exploration, expansion and modernization of steel production plants at Pakistan Steel, Karachi.
The above proposal was agreed in a meeting of Chairman, Pakistan Steel Mills, Ltd Gen Abdul Qayyum (Retd) with the Iranian Deputy Minister for Mines and Industry, Mr. Mostafa Moazenzadeh here on Sunday. Both wee discussed ways and means to benefit from each other's experience in the field of steel.

Chairman Steel Mills General Qayyum expressed the feeling of goodwill to Iranians on the behalf of Pakistani people and informed the Iranian Deputy Minister about the economic vision of President Musharraf and the resolve and commitment of internationally reputed Pakistani Prime Minister Mr. Shaukat Aziz to make Pakistan prosperous and welfare state.

He said that Pakistan was the first country who started importing iron ore from Iran an couple of years ago and Pakistan steel is keen to import more iron ore from Iran provided it met the international quality standard.

He highlighted relatively low quantum of trade between Iran and Pakistan at US $ 92 million exports from Pakistan to Iran and US $ 265 million imports from Iran during the financial year 2003-04.

The4 Chairman Steel Mills and Iranian Minister for Mines agreed to expand the scope of bilateral trade between the two states.

The Iranian Minister assured that chairman Pakistan Steel Mills that Iran would honour its contractual obligations for supply of iron ore to Pakistan and expressed the optimism that the private companies working in the field of steel in Iran would like to make investment in various economic, industrial and mining sectors in Pakistan.

The Iranian Deputy Minister agreed to the proposal by Chairman PSM Qayyum to send a delegation of experts to Pakistan to examine and discuss the areas of cooperation between Iran and Pakistan steel industry.

Beside, the Iranian Minister accepted the proposal to train Pakistan Steel Engineers and technicians in Isphahan Steel Industry which was founded by ex-Soviet Union and later expanded by the Iranian Authorities.

He also accepted the invitation to visit Pakistan in the near future."

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