Iran, Pakistan to develop bank cooperation

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Tehran (ISNA) - The Iranian Vice President for economic affairs Mohammad Nahavandian held a meeting with the Pakistani foreign minister Khawaja Muhammad Asif during his one-day visit to Tehran.

"The current situation in the region necessitates the increase of cooperation between Iran and Pakistan in the field of ​​regional security and development," said the Iranian Vice President for economic affairs, adding that the most urgent steps should be taken in the banking and transportation sectors.

"Although the level of trade between Iran and Pakistan has experienced a 35 per cent growth, but in the post-sanction era we must see a boost in economic relations and reach the target of 5 billion of euros, "he added.

Nahavandian then underlined that the implementation of a bilateral credit line of € 500 million for central banks and the opening of a bank branch in the two countries should be completed within the next three months.

"The establishment of maritime line between Iran's Chabahar and Pakistan's Karachi and the direct flight line between the two countries will lead to long-term cooperation," the Iranian vice-president said.

The Pakistani foreign minister also held talks on Monday with Iranian President Hassan Rohani and his Iranian counterpart Mohammad Javad Zarif.

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