Thursday September 28, 2023

PAJCCI hails barter trade

By Our Correspondent
June 07, 2023

KARACHI: Pakistan Afghanistan Joint Chamber of Commerce and Industry (PAJCCI) on Tuesday hailed a Pakistan govt decision to initiate barter trade with Afghanistan, Iran, and Russia, saying the initiative would help increase trade activities in the region. The decision would allow Pakistan to directly exchange goods or services with the three countries for other goods or services without using a medium of exchange, such as money.

“Finally dreams come true as PAJCCI welcome barter trade mechanism approval between Pakistan, Afghanistan, Iran, and Russia,” its chief Zubair Motiwala said. He highlighted that the joint chamber had had several meeting with concerned officials both in Pakistan and Afghanistan to push them take such decisions that could increase trade activities. According to Motiwala, PAJCCI has also recommended different other measures to facilitate economic activities with Afghanistan, including waiver of e-form and electric invoice programme requirement for an extended period till finalisation of alternate mechanism.

The decision would prove as a win-win situation for all stakeholders and usher in a new era of prosperity and development through promotion of commerce and trade in the whole region, benefiting millions of people, he said. In different meetings since 2021, the chamber has been calling for opening up new border crossings, increase in timings at existing trade mechanism implementation, and measures to explore new items for trade.