Pakistan and Iran have made a smart move to ink a barter trade deal by using the forums of Quetta Chamber of Commerce and Industry (QCCI) and Zahidan Chamber of Commerce and Industry (ZCCI). This arrangement has been effected by the two countries in view of the fact that Tehran faces US-led economic sanctions. The State Bank of Pakistan (SBP) had therefore distanced itself from this deal. It was a wise decision on its part. Iran must be grateful to Pakistan. It is important to note that India has not been buying Iranian oil since 2019 because of the US pressure. Be that as it may, the development between the two neighbouring and Islamic countries bring under sharper focus the fact that there exists for entering into a free trade agreement to give a big boost to the bilateral trade.
Rafiq Dashti (Karachi)
Copyright Business Recorder, 2021