According to Abdul Razak Dawood, Adviser to Prime Minister on Trade and Commerce, Pakistan and Iran have agreed on a barter deal to trade rice and import liquefied petroleum gas (LPG).
Under the barter agreement, Pakistan would import LPG from Iran in exchange for rice, according to a memorandum of understanding signed during the 9th Joint Trade Committee (JTC) meeting in Tehran earlier this month.
Both sides agreed at the JTC to increase bilateral trade to $5 billion by 2023.
During a news conference at the Karachi Press Club, Dawood stated that the barter commerce between the two neighbouring countries would begin in a month or two.
