In a meeting between a visiting Iranian private sector delegation to Pakistan and Pakistani central bank officials on Wednesday, the two sides reviewed the implementation of a barter trade mechanism between the two countries.
They also had discussions on resolving differences between Tehran and Islamabad on ways to implement barter trade.
Iran and Pakistan are seeking a barter trade mechanism in a bid to tackle the banking problems on the way of trade between the two neighboring countries.
Zahedan Chamber of Commerce is pursuing the case on behalf of Iran while Quetta Chamber of Commerce and Industry is also representing Pakistan in negotiations about barter trade with Iran.
President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Gholam Hossein Shafei, who is heading the Iranian delegation to Pakistan, said that relations between the two countries are exemplary.
He said that despite these close relations, the volume of trade between Iran and Pakistan is “limited and not defendable”.
Barter trade can be a good way for increasing the level of Tehran-Islamabad trade at present, Shafei said, adding that a large number a commodities are in both countries that can be bartered.
The Iran Chamber of Commerce president also stressed the need for an easy passage of the Iranian transit trucks into the Pakistani border as well as accelerating the execution of a free trade agreement between the two countries.
He also said that Iran and Pakistan can use national currencies in bilateral trade to give a boost to exchanges.