Iraq Proposes Karachi-Basra Maritime Link to Strengthen Trade with Pakistan

The Consulate General of Iraq from Basra city wants to build a trade routing to Pakistan’s commercial center Karachi to boost partnership between the nations as reported by the Karachi Chamber of Commerce and Industry on Wednesday.

Iraq’s Consul General Maher Mjhid Jejan brought forward the maritime link plan during his meeting at KCCI offices with their senior executives.

The Karachi Chamber of Commerce and Industry advocated in its official report that a Basra-Karachi shipping connection can bring Pakistan and Iraq business people closer together. The linked ports will help businesses ship goods more effectively while creating better trade routes.

The proposal appears now during a period of growing minister-level interactions between Pakistan and Iraq. Defense and counterterrorism talks plus information-sharing and drug enforcement partnerships became official between these nations in current times.

Pakistan works harder to build trading and investment partnerships with partners in its regional neighborhood because of its current economic problems. The government continues to team up companies with foreign businesses to help Pakistan find more funding and increase its lasting economic growth.

KCCI officials received detailed information about the new Iraqi investment rules which purposefully attract foreign investors from Jejan. The Chamber will receive updated investment legislation from Iraq so Pakistani businesses can learn about and use current opportunities there.

The Iraqi diplomat sees excellent export quality from Pakistan and wants more Pakistani businesses to take advantage of his country’s expanding market. He tells Pakistani business executives to tour Iraq and see the secure natural environment before looking at investment possibilities.

At the gathering Zia ul Arfeen Senior VP KCCI presented export figures for Pakistan to Iraq as $54.29 million during fiscal year 2024 plus import figures of $145.46 million for the same period. The present trade performance misses its real potential according to both sides so they need to streamline customs procedures and boost business facilities alongside expanding what Pakistan and Iraq trade with each other.

Arfeen proposed developing an oil pipeline that would run from Basra to Gwadar where it would offer Iraq a new trade route to Asian markets.