Azernews.Az

By Sara Rajabova

Pakistani opposition activist urges rapid construction of Iran-Pakistan (IP) gas pipeline which is expected to carry Iran's gas to the South Asian nation.

The leader from Pakistan People's Party (PPP) and member of Pakistan's National Assembly, Makhdoom Amin Fahim, called on Prime Minister Nawaz Sharif to complete Iran-Pakistan gas pipeline project in its scheduled time, Press TV reported.

"The previous government of my party had finalized the agreement of import of gas from Iran," Fahim said.

Earlier on March, Iran's President Mahmoud Ahmadinejad and his Pakistani counterpart Asif Ali Zardari inaugurated the final construction phase of the Iran-Pakistan gas pipeline at the shared border region in Iran's southeastern city of Chabahar, intended to carry natural gas from Iran to its eastern neighbor.

The IP gas pipeline is projected to come on stream in 2014. The pipeline, projected to cost $1.2-1.5 billion, will enable the export of 21.5 million cubic meters per day of Iranian natural gas to Pakistan.

Iran has already constructed more than 900 kilometers of the pipeline on its soil.

The 2700-kilometer-long pipeline will begin from Iran's Assalouyeh Energy Zone in the south and stretch over 1,100 kilometers through Iran. The joint multi-billion-dollar pipeline is designed to help Pakistan overcome its growing energy needs at a time when the country of over 180 million people is grappling with serious energy shortages.

Iran and Pakistan exchange business delegations on a regular basis and the two neighbouring countries are keen to further develop trade ties.

The current trade volume between Iran and Pakistan stands at $1 billion. Pakistani officials have called for an immediate increase of the trade volume between the two countries.

Iranian Consul General in Peshawar Hassan Darvishvand said in February that trade volume between Iran and Pakistan can be boosted to $15 billion.

In 1999, Iran and Pakistan signed Free Trade Agreement between the two countries. At present, both countries are cooperating and forming alliance in a number of areas including fighting drug trade along their shared border as well as defeating Afghan-supported tribal insurgency along their border. They are both members of the Developing 8 Countries group as well as the Economic Cooperation Organization; and are also both observers of the Shanghai Cooperation Organisation.