Pak-Iran trade: Iran wants Pakistani wheat

Iran decided to import Pakistani wheat for value addition after a meeting between the presidents of the two countries

KARACHI: Deputy Commerce Minister of Iran Abbas Qobadi has presented plans and arrangements for Iran’s decision to buy large quantities of Pakistani wheat in a meeting with members of the Karachi Chamber of Commerce and Industry on Wednesday. Iran had decided to import Pakistani wheat for value addition after a meeting between the presidents of the two countries, said Qobadi. The minister said that wheat will be imported through private channels and the payments may be settled through either local currency, through barter, or through the setting up of banking channels between the neighbouring countries. The wheat will be processed in Iranian mills into quality flour, biscuits and other products before it is re-exported to Central Asian countries. The minister says the move is reflective of Iran’s shift in focus from the west to its regional neighbours for trade.

Published in The Express Tribune, February 24^th, 2012.