Pakistan to Begin Barter Trade with Iran, Afghanistan and Russia:
The Ministry of Commerce in Pakistan has officially given its approval for barter trade in goods with Iran, Afghanistan, and Russia. This significant development means that both public and private entities now have the opportunity to engage in import and export activities with these countries through a designated ‘Business-to-Business (B2B) Barter Trade Mechanism’.
To participate in this barter trade, importers and exporters are required to be registered taxpayers and must be subscribed to the Pakistan Single Window (PSW) system. Through an online system, they can apply for authorization to import and export goods.
Under this mechanism, the trade of goods will follow the principle of “import followed by export,” ensuring that the value of the goods exported matches the value of the goods imported.
Pakistan has the potential to export 26 different goods to Afghanistan, Iran, and Russia. These goods include dairy products, meat and fish, fruits and vegetables, pharmaceutical products, leather goods, footwear, steel, and sports goods. From Afghanistan, Pakistan can import fruits, vegetables, spices, minerals, coal, rubber items, cotton, and iron and steel. From Iran, Pakistani traders can import fruits, vegetables, spices, petroleum products, chemicals, and articles of iron and steel. Imports from Russia include pulses, wheat, coal, petroleum products, fertilizers, textiles, and machinery.
You may like our posts:
Lawyer And Social Activist Jibran Nasir Picked up in Karachi by White Vigo, Claims Wife Mansha Pasha
Scientists Discover Material from Bacteria to Harvest Electricity in Thin Air
World’s Highest ATM is 15,397 Feet Above Sea Level, Installed at Khunjerab Pass in Pakistan
PAK Scientists Develop AI Method to Determine Citrus Fruit Sweetness
Nasiruddin Shah Says It has Become Fashionable to Hate Muslims in India
