Bilateral Relations

Iran proposes trade with Pakistan to be done in national currencies


Iranian Minister of Agriculture Javad Sadatinejad has proposed that Pakistan and Iran can use their own currencies to resolve problems in the way of conducting trade exchanges.

According to Ministry of Agriculture Jihad website, Sadatinejad made the remark on Sunday, when he received Abdul Razak Dawood, the advisor to Pakistan’s prime minister for commerce, textile, industry, production, and investment and his entourage.

Pakistan and Iran enjoy long-term relations, joint borders as well as common religion, culture and tribes, which can help improve trade ties, the Iranian minister noted.

The two countries are not rivals in terms of producing agricultural products, but they are complementary to each other, he said, adding that the new administration in Iran prioritizes barter trade with neighboring states.

Given the existing sanction campaign against Iran, financial trade between the two nations can be implemented via exchanging currencies of both countries in order to resolve trade obstacles, he added.

Sadatinejad went on to say that Pakistan and Iran can expand their economic and trade cooperation, especially in the field of bartering livestock, camel, fruits, and other agricultural products.

Abdul Razak Dawood, for his part, warned that the current volume of mutual trade exchanges is not proportional to the long history of relationship between the two nations, expressing hope that the economic ties will improve in the future.

He call for creating a link among Iran, Pakistan, Afghanistan, Turkmenistan, Kazakhstan, and Tajikistan, noting that regional connection would not be fruitful without Iran’s participation.

Development of economic and trade collaborations between Tehran and Islamabad is of utmost importance, the Pakistani official said, adding that the two countries should expand trade exchanges in particular in agriculture.

Dawood went on to say that Pakistan and Iran have rice and oil respectively, which can be bartered.

Pointing to anti-Iran sanctions, he emphasized that his country is seeking for a mechanism to upgrade trade ties with Iran.

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