By IANS,
Islamabad : Iran will open a bank in Pakistan to facilitate bilateral business activities, Xinhua reported.
This was announced in a meeting between Iranian Foreign Minister Akbar Salehi with Pakistani Prime Minister Yousuf Raza Gilani here Thursday.
The Iranian foreign minister was in Islamabad to attend the two-day Joint Economic Commission with Pakistan, which concluded Thursday.
It was also decided in the meeting to create an investment fund to encourage the private sector to undertake projects in the two countries.
It also decided to rationalise the tariff regime to boost trade and curb smuggling, a statement from the prime minister’s office said.
Gilani emphasised on the importance of expediting the projects of gas pipeline and import of 1,000 MW electricity from Iran to Pakistan.