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Iran envoy stresses barter trade with Pakistan to strengthen bilateral ties

CrazyZ

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Iran envoy stresses barter trade with Pakistan to strengthen bilateral ties

Iran envoy stresses barter trade with Pakistan to strengthen bilateral ties
Islamabad, IRNA -- The Consul General of the Islamic Republic of Iran in Pakistan's Peshawar stressed the need to sign an agreement between the Pakistan Chambers of Commerce and the provinces of Iran saying that promotion of barter trade will help strengthen bilateral relations.

Consul General of Iran Hamid Reza Ghomi expressed the views while talking to Sarhad Chamber of Commerce and Industry (SCCI) President Hasnain Khurshid at the Chamber's House in northwestern city of Peshawar.
Welcoming the practical steps towards bringing the Iranian and Pakistani business institutions closer, especially the private sector, he said the Islamic Republic of Iran is designing a mechanism for free trade with Pakistan to strengthen economic relations between the two Islamic countries.
"If the policy based on the mechanism is implemented, the set mutual trade target 5 billion dollars between the two countries could be achieved easily," said Hamid Reza Ghomi.
The Iranian diplomat said both countries enjoyed cordial relations owing to common culture and religion. He said the option of barter trade was available to cement the mutual relationship between Iran and Pakistan.
The Iranian consul general suggested signing Memorandums of Understanding (MoUs) between the SCCI and Industries and Mines Ministry in Iran for joint initiatives to promote bilateral trade.
Earlier, the SCCI chief emphasized that joint efforts should be made to enlarge mutual trade and economic relations between Pakistan and Iran.
Iran envoy stresses barter trade with Pakistan to strengthen bilateral ties
Hasnain Khurshid pointed out that it was getting difficult to achieve mutual trade targets due to lack of proper banking channels between the two countries.
An ambitious 5 billion dollars mutual trade target is being set between Pakistan and Iran, but 504 million dollars trade was carried out between the two countries last year, the SCCI chief pointed out.
However, he hoped the constitution mechanism for free trade would lead to the achievement of the afore-stated set by Pakistan-Iran mutual trade target.
He said the exchange of business delegations, joint exhibitions, signing of agreements between chambers and taking benefits from each other’s experiences and launching joint ventures would cement bilateral trade relations between Pakistan and Iran.
The SCCI chief stressed the need for early completion of Iran-Pakistan gas pipeline project.
Ghomi said a delegation led by Khyber Pakhtunkhwa Assembly Speaker Mushtaq Ghani would soon visit Iran.
He suggested to the SCCI chief to become part of the delegation as that would ensure the representation of the business community.
The Iranian diplomat agreed to the proposals made by the SCCI president and other participants.
He said the SCCI should get practical and sign an agreement with Iran's Mashad Chamber Commerce, assuring his full assistance in this regard at every level.


Great time to focus on independent trade mechanisms within the MENA.
 

fitpOsitive

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Iran envoy stresses barter trade with Pakistan to strengthen bilateral ties

Iran envoy stresses barter trade with Pakistan to strengthen bilateral ties
Islamabad, IRNA -- The Consul General of the Islamic Republic of Iran in Pakistan's Peshawar stressed the need to sign an agreement between the Pakistan Chambers of Commerce and the provinces of Iran saying that promotion of barter trade will help strengthen bilateral relations.

Consul General of Iran Hamid Reza Ghomi expressed the views while talking to Sarhad Chamber of Commerce and Industry (SCCI) President Hasnain Khurshid at the Chamber's House in northwestern city of Peshawar.
Welcoming the practical steps towards bringing the Iranian and Pakistani business institutions closer, especially the private sector, he said the Islamic Republic of Iran is designing a mechanism for free trade with Pakistan to strengthen economic relations between the two Islamic countries.
"If the policy based on the mechanism is implemented, the set mutual trade target 5 billion dollars between the two countries could be achieved easily," said Hamid Reza Ghomi.
The Iranian diplomat said both countries enjoyed cordial relations owing to common culture and religion. He said the option of barter trade was available to cement the mutual relationship between Iran and Pakistan.
The Iranian consul general suggested signing Memorandums of Understanding (MoUs) between the SCCI and Industries and Mines Ministry in Iran for joint initiatives to promote bilateral trade.
Earlier, the SCCI chief emphasized that joint efforts should be made to enlarge mutual trade and economic relations between Pakistan and Iran.
Iran envoy stresses barter trade with Pakistan to strengthen bilateral ties
Hasnain Khurshid pointed out that it was getting difficult to achieve mutual trade targets due to lack of proper banking channels between the two countries.
An ambitious 5 billion dollars mutual trade target is being set between Pakistan and Iran, but 504 million dollars trade was carried out between the two countries last year, the SCCI chief pointed out.
However, he hoped the constitution mechanism for free trade would lead to the achievement of the afore-stated set by Pakistan-Iran mutual trade target.
He said the exchange of business delegations, joint exhibitions, signing of agreements between chambers and taking benefits from each other’s experiences and launching joint ventures would cement bilateral trade relations between Pakistan and Iran.
The SCCI chief stressed the need for early completion of Iran-Pakistan gas pipeline project.
Ghomi said a delegation led by Khyber Pakhtunkhwa Assembly Speaker Mushtaq Ghani would soon visit Iran.
He suggested to the SCCI chief to become part of the delegation as that would ensure the representation of the business community.
The Iranian diplomat agreed to the proposals made by the SCCI president and other participants.
He said the SCCI should get practical and sign an agreement with Iran's Mashad Chamber Commerce, assuring his full assistance in this regard at every level.


Great time to focus on independent trade mechanisms within the MENA.
Mr ayat ullah stop terrorism in Pakistan first.
 

Sainthood 101

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I don't think barter trade can be as productive
hopefully we get an alternative system to USD in our region

Barter trade is ofcourse better than nothing but if we can do our buisness in yuan than that can probably be beneficial for both of us (cause I don't think China enforces sanctions on Iran)

They can import things from China with that yuan while it'll be beneficial for us to as we also import a lot with China (I think we even have some yuan agreement with China)
 

AZADPAKISTAN2009

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I do feel Iran-Pakistan should setup a Economic Duty Free zone , for sale of Goods both ways

IRAN-Pakistani Rupee , trade currency maintained at border

If Iranians will buy Pakistani Rupee, for Trade , it will create shortages of Rupee in local market and thus increase the value or demand of rupee
 

Jf-17 block 3

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I don't think barter trade can be as productive
hopefully we get an alternative system to USD in our region

Barter trade is ofcourse better than nothing but if we can do our buisness in yuan than that can probably be beneficial for both of us (cause I don't think China enforces sanctions on Iran)

They can import things from China with that yuan while it'll be beneficial for us to as we also import a lot with China (I think we even have some yuan agreement with China)
Barter trade between Pakistan and Iran could be very beneficial.
Iran gives us oil and gas, we gave them rice and other crops they import.
Pakistan imports a lot of oil and gas.
Iran imports a lot of food crops.
We trade food for discounted oil and gas (discounted because we’re trading with a sanctioned country and we could have exported those products instead and bought oil from somewhere else) and save many many billions of usd in forex a year. Use that forex for better things.
Pakistans agricultural output is pathetic. With good policies we can 4x our output however even with this pathetic output we still are top 10 producers in many crops. Imagine gov saves $10 billion forex from barter trade and uses that to invest in more dams to irrigate more land and make everyone use drip irrigation (drip irrigation uses 90% less water then our current methods and agriculture alone uses 80% of our water so this move alone can solve water issue in Pakistan). We will be even bigger food producers then and can afford to barter trade food with Iran for oil and gas while exporting food to Europe and other countries.
Rn oil is at almost $140 a barrel we can’t afford that with our current forex situation. We can afford expensive oil if government uses rupees to buy crops from farmers and barter trades those crops for oil and we can probably convince Iranians to give us oil at $80 a barrel.
 

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