SAARC Chamber of Commerce and Industry former President Iftikhar Ali Malik on Sunday urged Pakistan to enhance barter trade with Iran to capitalize on the neighbouring country’s estimated $36 billion market.
US-Iran peace opens new trade opportunities: Iftikhar Malik
LAHORE, Jun 28 (APP): SAARC Chamber of Commerce and Industry former President Iftikhar Ali Malik on Sunday urged Pakistan to enhance barter trade with Iran to capitalize on the neighbouring country’s estimated $36 billion market.
In a statement, he said the recent easing of US-Iran tensions had created fresh opportunities for regional trade. He added barter trade would help overcome payment constraints, reduce dependence on foreign exchange and benefit exporters, SMEs and border communities. He said Pakistan could increase exports of rice, textiles, surgical instruments, sports goods, pharmaceuticals, processed food and other products, while importing petroleum products, fertilizers and industrial raw materials from Iran.
Iftikhar Ali Malik also called for improved customs procedures, establishment of border markets, better transport connectivity and stronger business-to-business contacts to boost bilateral trade.
