Tehran, Islamabad Eye Bartering to Expand Bilateral Trade
IRAN NEWS ECONOMIC DESK
TEHRAN – Iran and Pakistan are keen to expand their economic cooperation by focusing on barter trade.
An Iranian trade delegation, led by head of Tehran’s Chamber of Commerce Mr. Masoud Khansari, arrived in Karachi, Pakistan, on Monday to meet economic activists of Karachi as well as the government officials of this economic capital of Pakistan.
The delegation is aimed at exploring ways for expansion of trade and business with Pakistan and especially with cities of Karachi and Lahore. The delegation is to identify hurdles in way of enhancing bilateral trade and to resolve them.
In the first meeting in Karachi, the Iranian delegation in Iran’s Consulate General in Karachi, met the founder of Siddiq Sons Holdings Mr. Tariq Rafi and one of the famous entrepreneurs of Pakistan and they exchanged views over the challenges in way of trade between both states.
During the meeting, Mr. Rafi said that during his meeting with the governor of Pakistan Central Bank, barter trade with Iran was raised, adding that the governor urged Pakistan’s private sector to focus on barter trade with Iran.
The Pakistani businessman also announced readiness of Pakistan private sector for creating a new mechanism for monetary transactions between both states and noted that Pakistani statesmen patiently have accepted operational ways of Pakistan private sector in trade with Iran and they bring them into effect.
Khansari, for his part, said that one of the weakest points in economic interactions between both states is lack of enough information of private sector.
He added that currently, major part of Iran and Pakistan’s bilateral trade is carried out through other countries and by identifying the needs of both states, they can have a real trade without involvement of the third part.
Khansari admitted that although sanctions have created challenges for Iran’s economy but this threat can turn into an opportunity, and trade exchanges of both states could be based on bartering via private sector in order that both countries can provide the needs of their markets by each other.
He added that the trade balance of both states is in favor of Iran, and Pakistan businessman can provide Iran with its needed commodities.
Khansari went on to say that Tehran’s Chamber has studied thoroughly the needs of Pakistan market and has provided a list of goods that Pakistan can provide via Iran and it is available for private sector of Pakistan.
