Monday, March 4, 2024

Pakistan to import LPG from Iran in exchange of rice.

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.

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