ISLAMABAD (Dispatches) - Pakistan Prime Minister’s advisor on Commerce, Textile, Industries and Production Abdul Razak Dawood says Iran and Pakistan are working on a barter trade deal mechanism to enhance bilateral trade, local media reported.
Dawood informed National Assembly Standing Committee on Commerce and Textile that he held a meeting with the Iranian Trade Minister and discussed the ways and means of a barter trade deal between the two neighbours.
Dawood recently accompanied Prime Minister Imran Khan during his visit to Iran.
He said both countries have decided to select two or three items each which can be traded through barter, adding that Iran has identified electricity and Liquefied Natural Gas (LPG) whereas Pakistan will export agricultural products.
Additional Secretary, Commerce Division, Capt. Javed Akbar further explained that both countries are working together to improve the barter trade mechanism and State Bank of Pakistan (SBP) is extending help in this regard.
He further stated that Federation of Chamber of Commerce and Industry (FPCCI) and Iranian Chamber are actually taking the lead in this deal.