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Iran, Pakistan agre on bilateral trade via rupees

Business Materials 10 September 2012 17:09
Iran and Pakistan have agreed to set up bilateral trade between the two countries, using their national currencies, Mehr reported.
Iran, Pakistan agre on bilateral trade via rupees

Azerbaijan, Baku, Sept. 10 /Trend S.Isayev, T. Jafarov/

Iran and Pakistan have agreed to set up bilateral trade between the two countries, using their national currencies, Mehr reported.

Head of of Iran's Trade Commerce Yahya Ali Ishaq and President of Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Haji Fazal Kadir Khan Sherani have met todat in Karachi, to discuss issues of mutual interest.

Entrepreneurs and representatives of different sectors from both Iran and Pakistan met as well.

Sherani noted at the meeting, that since the problem of sanctions exist, there are certain difficulties with transfering money via banks, thus it has been proposed to use rupees in bilateral economic relations between the two countries.

Head of of Iran's Trade Commerce Yahya Ali Ishaq welcomed Pakistani side's preposition, noting that he will discuss it with the representatives of Iran's Central Bank upon his return to Tehran.

Aside from that, Sherani said there is a good opportunity to produce quality rice in Pakistan, proposing that Pakistan and Iran could exchange services and goods via barter deals.

Sherani noted that Iran and Pakistan could establish a trade, with rice (Pakistan) for fertilizers and petrochemicals (Iran).

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