Pakistan analyst calls for developing barter trade with Iran

Islamabad, May 6, IRNA -- A senior Pakistani columnist has stressed upon the need for developing effective barter trade system between Iran and Pakistan.

Ayub Malik in his article published in Urdu daily ‘Jang’ said that many countries in the world are doing trade with Iran through barter system so Pakistan should also use that link to boost bilateral trade ties.
He said recent visit of Prime Minister Imran Khan to Iran has paved the way for durable peace in the region and enhances trade and political ties between the two countries.
The analyst said that Iran is an important neighbor of Pakistan and we should develop strong relations with Iran in all areas.
Ayub Malik added that Pakistan should also develop strong economic ties with its other neighboring states including India and China.
He said that Pakistan can export rice and other textiles items to Iran through barter trade system.
“Pakistan must focus on enhancing trade with Iran using the barter trade system,” he viewed.
Leaders of Iran and Pakistan have already agreed to enhance the bilateral trade volume to US $5 billion in the next five years.
Despite the lack of banking channel, customs and tariff issues the trade between Iran and Pakistan has been increasing. The embassy of Iran in Pakistan has said that trade between the two countries saw an increase of US $ 917 million in the past Iranian year.
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