Pakistan and Iran to enhance steel trade

Pakistan and Iran to enhance steel trade

In a meeting held on Sunday, chairman of Pakistan Steel Mills (PSM) and Iranian Deputy Minister for Mines and Industry agreed to enhance steel trade between the two countries. Accordingly, Iran will provide technical assistance to PSM and will supply iron ore to Pakistan. A few years ago, Pakistan was the first country to import iron ore from Iran. Pakistani officials stated that the country will continue to import iron ore from Iran provided that it meets international quality standard. In 2003-04 financial year, exports from Pakistan to Iran were recorded as $92 million and exports from Iran to Pakistan were recorded as $265 million. Officials of these two countries, finding these figures low, agreed to enhance the scope of bilateral trade between Iran and Pakistan.