Islamabad, July 6: Iran and Pakistan have on Friday reached an agreement on the importance of constituting a committee in order to check goods for “barter trade” system promotion.
According to Dawn news reports, the development was agreed at a concluding session of the 8th Iran-Pakistan Joint Trade Committee. Prime Minister Imran Khan’s advisor on commerce Razak Dawood has led a team of Pakistan delegation, while the Iranian delegation was led by Reza Rahmani, minister for industries, mine and trade.
The two sides were suggested in order to kick off their barter trade system, they should select some good items that acknowledge competitive advantages. With this regard, Pakistan can bolster its exports of rice, fruit, sugar, and wheat to Iran.
The Iranian officials acknowledged a fact Pakistan-Iran trade ties and cooperation were not dealing with the current real potential, especially in pharmaceuticals, food products, and agriculture.
Tehran has shown its interest in 500,000-tonne rice goods exports to Islamabad over the dismissal of possible congestion in order to increase trade cooperation and jointly generate a way forward.
Moreover, the Iranian side has also asked the Pakistan government to unveil main border trade points, particularly at Korak, Pishin, and Ramadan, which will hike the bilateral trade system.
Dawood suggested dismissal of several taxation measures like loads and road taxes on trucks/vehicles which crosses the border in order to facilitate trade.
He vowed a dedicated panel at Islamabad’s Trade Development Authority of Pakistan with a commitment to resolve the prevalent issues.
Iran and Pakistan both have agreed to resolve issues which include removal of barriers which made the Pak-Iran Preferential Trade Agreement, inked in 2006, ineffective.