Migmg news
ISLAMABAD: Federal Cabinet approves barter to promote regional trade Federal Commerce Minister Naveed Qamar says trade worth billions of dollars can be possible with this measure.
Talking to the media, the Commerce Minister said that the Federal Cabinet has approved the Trade Exchange Framework. With whose help the dollar will try to overcome the crisis and support the economy and control the trade deficit.
He said the barter exchange would increase the country’s total exports. Trade will be increased with countries in Central Asia and Africa, including Iran and Afghanistan. Apart from this, China can also engage in trade exchange.
Naveed Qamar said that import hurdle can be overcome by barter, trade of billions of dollars can be possible through barter, European Union, America, United Kingdom and Middle East will not join in barter. the banking system, where normal trade is in surplus, they will not do barter.
The federal minister said that Africa and Central Asia have great potential for trade, they offer a solution to the dollar crisis through exchange, the lack of banking channels is the reason for the new framework, the trade of goods for goods from Afghanistan and Iran. It will be possible.