Pakistan and Iran have agreed on a barter deal to sell rice and buy liquefied petroleum gas (LPG), according to Abdul Razak Dawood, Adviser to Prime Minister on Trade and Commerce.
According to a memorandum of understanding reached during the 9th Joint Trade Committee (JTC) meeting in Tehran earlier this month, Pakistan would buy LPG from Iran in exchange for rice under the barter deal.
At the JTC, both sides agreed to grow bilateral trade to $5 billion by 2023.
Moreover, Dawood indicated at a press conference held at the Karachi Press Club that barter commerce between the two neighbouring countries would begin in a month or two.
