Iraq has proposed to establish a maritime bond between its port city in southern Basora and the Pakistan shopping center, Karachi, as part of a broader effort to strengthen trade and logistics between the two nations, the Karachi Chamber of Commerce and Industry (Kcci) announced Wednesday.
The proposal was presented by the Consul General of Iraq, Maher Mjhid Jejan, during a visit to the Kcci office, where he met with senior representatives to discuss ways to improve bilateral commercial ties.
“A maritime link between Basra and Karachi could play a key role to bring the commercial communities of both countries closer,” said the KCCI in an official statement. “This connection could improve logistics and strengthen trade routes.”
The proposal comes at a time when Pakistan and Iraq have witnessed a notable rebound in bilateral commitment, particularly at the ministerial level. In recent years, the two countries have initiated dialogues to improve cooperation in defense, anti -terrorism, intelligence exchange and guidance.
Pakistan, which faces economic winds, has increased efforts to deepen commercial and investment ties with regional allies. The government is actively promoting associations in key sectors as part of its strategy to attract foreign investment and boost sustainable economic growth.
Jejan informed Kcci officials about the recently introduced investment laws of Iraq, specifically designed to attract foreign investors. He assured the Chamber that these legislative changes would be shared with Pakistani interested parties to help them understand and take better advantage of emerging opportunities in Iraq.
Recognizing the quality of Pakistani exports, the Iraqi diplomat encouraged a greater participation of Pakistani exporters and investors in the growing market of their country. He pointed out that Iraq is experiencing rapid development and offers “immense potential” for trade and investment, inviting Pakistani business leaders to visit Iraq and witness the “peaceful and stable environment” first -hand.
During the meeting, the senior vice president of Kcci, Zia Ul Arfeen, shared commercial figures, and pointed out that Pakistan’s exports to Iraq were $ 54.29 million in fiscal year 2024, while Iraq imports totaled $ 145.46 million. He described this volume significantly below the true potential, urging both parties to simplify customs procedures, improve the ease of doing business and diversify negotiable goods and services.
Arfeen also raised the idea of ​​establishing an oil pipe between Basora and the port city of the Southwest of Gwadar Pakistan, which suggests that it could serve as a critical commercial corridor for Iraq, facilitating access to broader Asian markets.
