Iranian envoy expresses desire to be part of CPEC

Islamabad [Pakistan], Oct. 5 (ANI): Consul General of Iran Mohammad Hossein Bani Assadi has said that the China-Pakistan Economic Corridor (CPEC) is a great economic development project and Iran would like to be a part of it. Assadi made the remarks while speaking at the Lahore Chamber of Commerce and Industry (LCCI) yesterday. Stating that the State Bank of Pakistan and Central Bank of Iran have finalised all modalities in regard to open the first Iranian bank branch which will be opened in Karachi very soon, he said that Tehran and Kabul should take measures to boost mutual trade volume as both the countries have trade potential worth billions of dollars. "Iran is ready to fulfill the growing energy needs of Pakistan," the Express Tribune quoted Assadi, as saying. According to him, Pak-Iran Gas Pipeline project could be completed in a short span of time. LCCI President Abdul Basit who also spoke at the event said that the alliance between Pakistani and Iranian business in the ongoing projects of CPEC could go a long way. Basit also hailed the statement of Consul General of Iran that Tehran is interested to join CPEC and invest in Pakistan's infrastructure and energy sectors. CPEC is considered to be a part of China's One Belt, One Road initiative, the USD 46 billion project covers Balochistan and Sindh provinces and Pakistan-occupied Kashmir (PoK). The CPEC, which would link Pakistan's southern Gwadar Port on the Arabian Sea to China's western Xinjiang region, includes plans to create road, rail and oil pipeline links to improve connectivity between Beijing and the Middle East. The project is reportedly Beijing's aim to expand its influence in Islamabad and across Central and South Asia in order to counter the United States and Indian influence. (ANI)