Pakistan-Iran Barter Trade to Increase

The Pakistani Ministry of Trade issued a notification on 7 April 2022 to lay down the procedure for barter trade between Iran and Pakistan. Officials believe that this move will increase the bilateral trade from the existing level of US$1 billion to US$5 billion. A preferential trade agreement was signed between the two countries back in 2006 but it failed to increase bilateral trade as the US heavily sanctioned the Iranian economy. - Pakistan Today