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Historic step – Islamabad-Tehran-Istanbul road corridor becomes operational for trade

05:27 PM | 9 Oct, 2021
Historic step – Islamabad-Tehran-Istanbul road corridor becomes operational for trade

ISLAMABAD – The first two National Logistics Company (NLC) trucks carrying goods from Pakistan reached Turkey via Iran, under the Transports Internationaux Routiers (TIR) convention.

A ceremony was held on Friday at Murat Bey Customs Post in Istanbul to mark the launch of the tri-nation road corridor.  

The NLC trucks departed from Karachi on September 28 and reached Istanbul on October 7 covering a distance of 5300 Kilometers, said an official statement.

Senior officials of the Turkish Ministry of Transport and Infrastructure, Ministry of Trade, Chamber of Commerce & Commodity Exchanges of Turkey (TOBB), International Road Transport Union (IRU), ECO Secretariat, Transport Ministry of the Islamic Republic of Iran, NLC, members and representatives of the Turkish private sector related to transport, and Pakistan Ambassador to Turkey, Muhammad Syrus Qazi accompanied by representatives of Pakistan Embassy and Consulate General participated in the ceremony.

Umberto de Pretto, Secretary General of IRU, based in Geneva, also came to attend this ceremony. All participants hailed the development as a vital step in promoting connectivity and enhancing trade between Pakistan and Turkey.

Ambassador Syrys Qazi in his remarks highlighted the Pakistan's focus on geo-economics and how regional connectivity was crucial in this regard.

He hailed this trial run of NLC trucks as a historic step that will strengthen road connectivity between Pakistan and Turkey and would also help in promotion of bilateral trade.

The ambassador noted that operationalization of this road link will help reduce the cost and time for transportation.

Reviving the Islamabad-Tehran-Istanbul (ITI-ECO) road transport corridor will generate revenue, boost trade and increase economic cooperation among the ECO member states. After this initial successful run, the NLC intends to increase and regularise transport of goods between Pakistan and Turkey, helping to bring the two countries further closer.

Daily Pakistan Global Web Desk

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Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 18 April 2024

Pakistani currency continues to gain against US Dollar and other currencies on April 18, 2024. US dollar was being quoted at 277.2 for buying and 280.3 for selling.

Euro comes down to 293 for buying and 296 for selling while British Pound stands at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 18 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.2 280.3
Euro EUR 293 296
UK Pound Sterling GBP 342.25  345.65 
U.A.E Dirham AED 75.25  75.95
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 739.63 747.63
Canadian Dollar CAD 201 203
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.32 3.43
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 902.26 912.91
Malaysian Ringgit MYR 58.24 59.52
New Zealand Dollar NZD 164.75 169.63
Norwegians Krone NOK 25.42 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.37 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.56 7.76

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