ITI Cargo Train to take a big step forward in promoting economic ties
United Business Group Head Chairman Zubair F. Tufail Secretary General Zafar Bakhtawari Information Secretary Dr Mirza Ikhtiar Baig and other UBG members congratulated Shah Mahmood Qureshi, Minister of Business Foreign Minister Azam Khan Swati, Minister of Railways and Abdul Razak Dawood, PM Advisor on Trade on the occasion of the inauguration of the ITI freight train.
While welcoming the launch of the Islamabad – Tehran – Istanbul freight train, UBG said it is an important step in the expansion of trade and economic activities in the ECO region.
They said the ITI freight train has been a long-standing desire of the business community in Pakistan, Iran and Turkey, which has now become a reality. The freight train will go a long way in bringing the business community closer to the CEE countries, which will lead to an expansion of economic ties and regional connectivity and will also explore new avenues for the expansion of trade. The volume of imports and exports will decline rapidly in the coming times in 3 important CEE countries, while significant economic growth will be observed throughout the CEE region.
UBG chief said the length of the ITI railway is 6500 km including 2570 km in Iran, 2000 km in Turkey and around 1900 km in Pakistan, which takes less than half of the shipping time. and will also be safer and more economical compared to the road. UBG urged the business community to use the ITI freight train, make it a success and improve connectivity between them.
UBG members further suggested that Pakistan, Iran and Turkey could also initiate the launch of a passenger train so that tourism can have better prospects in the ECO region.