ISLAMABAD, Mar 07: State Minister for Parliamentary Affairs on Thursday informed the Senate that Pakistan was very keen to enhance trade with the neighboring country Iran, but global embargoes were the main hindrance.
He was responding to a question during the question house session in the upper house.
The minister said that the transactions between Iran and Pakistan took place via the United Arab Emirates and there was no direct transaction system between the two countries.
He said the government was struggling to enhance bilateral trade between the two countries.
The exports with Iran from April to December were 319 million dollars whereas exports for the same period in 2018 was 209 million dollars, the minster informed the house adding Iran imposed ban on Pakistan rice exports during July to November every year.
He said that 18 % exports had been increased with Bangladesh adding the exports items with Bangladesh included rice, cosmetics and fabric.
About Siri Lanka the minister told the upper house that there was 31% increase in a trade with Sri Lanka during the last five years.
The export items with Sri Lanka were rice and cotton whereas the import items from Sri Lanka included rubber, tea, coconut and fruits.
He said Pakistan exported raw material to many countries and they after making products sold them in international market at a profitable rate.
He said Pakistan should promote its value-added products instead of focusing on exporting raw material.