20000329

Iran invites Pak

Banks, insurance

Cos to set up

branches in IFZ

RECORDER REPORT

KARACHI: Iran has invited Pakistani commercial banks and insurance companies to set up their branches and representative offices in Iranian Free Zone.

Sources revealed that Iran has expressed keen desire for Pakistan's participation in the growth of the Iranian economy.

Pakistani private sector has been invited to set up permanent goods and commodities exhibition centres to take advantage of the Iranian Free Zones and to find access to the markets of Central Asian Countries.

Pakistan has been facing difficulties to develop trade link with the Central Asian countries because of on going war in Afghanistan for the last 20 years.

The Iranian govt said that the commercial banks and insurance companies can set up their branches in order to render offshore banking and insurance services in the Iranian Free Zones (IFZ).

Investments by Pakistan in the areas of construction and completion of the infrastructures and public utilities, were also invited.

Investment circles, industrialists and persons dealing with the export-import enterprises in Pakistan were invited to participate in economic activities (production, processing of goods, exports and re-exports) in the IFZ.