Wednesday, February 21, 2024

Declaration Continues of Barter Trade Procedure from Russia, Iran and Afghanistan

The Ministry of Commerce issued a declaration on the procedure of barter trade with Russia, Iran, Afghanistan and other countries.

According to the declaration, state-owned and private enterprises will be able to trade goods for goods, but it was declared necessary for private enterprises to be in the FBR’s list of active taxpayers.

According to the announcement, Pakistan Single Window System and import-export license will also be the basic condition, for trading of goods, application will have to be made through FBR’s online portal. Verification from the Pakistani mission in the respective country has also been made mandatory for trade in goods.

According to Ministry of Commerce officials, milk, cream, eggs, cereals can be exported from Pakistan, meat, fish products, fruits, vegetables are also included in the list. According to officials, rice, bakery items, salt, oil, perfume and cosmetics will also be able to be exported, chemicals, plastic, rubber, leather, wood products will also be able to be exported.

Paper, footwear, iron, steel, copper, aluminum, cutlery are also included in the list, Pakistan will also be able to export electric fans, home appliances, motorcycles.

According to the declaration, surgical instruments and sports equipment will also be exported, wheat, pulses, petroleum products will be imported from Russia under the barter system. Fertilizers and textile machinery will also be imported from Russia, the Ministry of Commerce said it will be possible to import oil seeds, minerals, cotton from neighboring countries, fruits and vegetables, spices, dried fruits will be imported from Afghanistan and Iran.

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