Pakistan to exchange rice for LPG with Iran: Pakistani Adviser
Islamabad, IRNA -- Adviser to Pakistani Prime Minister on Commerce Abdul Razak Dawood says that Pakistan would exchange rice for liquefied petroleum gas (LPG) from Iran under a barter arrangement, local media reported.
Daily Pakistan Today reported that the adviser while talking to media said that "when we went to Iran what we talked about was the barter trade, almost all pieces of the jigsaw had been put in place".
"We will export rice to Iran and import LPG from there it is purely a barter deal. They have agreed in principle and we have signed a memorandum of understanding (MoU),” he said, adding that the barter would begin within a month or two.
The 9th meeting of the Iran-Pakistan Joint Trade Committee was held in Tehran on November 6-7 during which both sides had agreed to increase the bilateral trade volume to $5 billion. Adviser to Pakistani Prime Minister on Commerce Abdul Razak Dawood led the Pakistani delegation in the JTC meeting.
Meanwhile, a Memorandum of Understanding was also signed between the Quetta Chamber of Commerce and Industry and the Zahedan Chamber of Commerce to strengthen cooperation.
Earlier Adviser Abdul Razak Dawood talking to IRNA said soon a barter trade mechanism will be established with the Islamic Republic of Iran.
Source: Islamic Republic News Agency - IRNA