Union of Small and Medium Enterprises for finalizing currency swap agreement with Iran

Karachi: The Union of Small and Medium Enterprises (UNISAME) has urged President Asif Ali Zardari to benefit from the presence of President of Iran Mahmoud Ahmadinejad in Pakistan and finalize the much awaited currency swap agreement (CSA) proposed by President Zardari himself last year in Iran.

President UNISAME Zulfikar Thaver said the CSA will enable prompt settlement of bills of exports and imports of one another through currency swap.

He said the exporters to Iran are badly affected due to sanctions imposed against Iran and are finding it very difficult to obtain payments for their bills drawn on Iranian buyers and have to do a lot of manoeuvring to recover their dues likewise Iranian exporters to Pakistan have to use different modes.

He said Pakistan exports many items to Iran and likewise imports many items from Iran and a CSA with Iran and Pakistan would prove a blessing as the ledgers between both the countries would be adjusted by buying and selling from one another in their respective currencies.

Secondly he said Iran like Turkey has been our true and loyal friend in times of crisis and even today Iran is in a position to supply us oil, gas and energy on a regular basis to enable us resolve crucial issues.

The union has urged the President Asif Ali Zardari to pursue the CSA proposed by himself during his visit to Iran and seek this opportunity now to conclude this very important and crucial agreement which would facilitate healthy bilateral trade between both the countries very comfortably and enhance legal trade by land and sea as well and curb smuggling.

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