ISLAMABAD:

The government has directed the Ministry of Commerce to engage in barter trade with Iran, Russia and Afghanistan with care, diligence and caution because of the imposition of sanctions on different products and entities.

Several entities of Iran and Russia are facing US and UN sanctions, which remain key hurdles in the way of executing barter trade arrangements with Iran, Russia and Afghanistan.

The Economic Coordination Committee (ECC) recently approved amendments to the B2B (business-to-business) barter trade mechanism to promote bilateral trade, which had been stalled due to several issues.

In a meeting, the Ministry of Commerce briefed the economic decision-making body that in pursuance of a decision taken by the ECC, the ministry had issued SRO 642(I)/2023 dated June 1,

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