PAAPAM and IAPMA Agree on Barter Trade

The Iranian Auto Parts Manufacturers Association (IAPMA) and the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) have announced plans to barter parts and raw materials in addition to exchanging technologies.

By doing this, both entities will be able to take advantage of the enormous potential for producing and supplying auto parts and accessories between the two nations. In order to attend an exhibition in Tehran, the Iranian government invited a delegation of Pakistani auto parts manufacturers to travel to Iran. To open up possibilities for exploring trade routes, they met with senior members of Iranian chambers and the IAPMA.

The cooperation between the two nations, which are bonded by friendship, proximity, culture, and religion, was reciprocated by Iranian officials and entrepreneurs. The 7-day journey saw continued activity at the Pakistani embassy and its commercial section. Positive attitudes won out on both sides after confirming a barter trade agreement.

Nilofar Esadi, the deputy head of international affairs at the Iran Chamber, said that given their mutual capabilities and long history of relationship, the two countries could work together to fill gaps in the auto industry. In pursuance of a memorandum of understanding (MoU) signed between the Iran Chamber and the Federation of Pakistan Chambers of Commerce and Industry for establishing the Iran-Pakistan Joint Business Council, Esadi emphasized:

“We plan to cooperate closely to develop trade with Pakistan.”

According to the delegation’s leaders, Muhammad Nasim and Najamul Hassan Jawa, Pakistan’s auto parts industry produces top-quality parts because it adheres to the highest standards in the world.

Source: TheExpressTribune

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