ISLAMABAD: Pakistan and Iran have revised the Statutory Regulatory Order (SRO) under the Business-to-Business (B2B) Barter Trade Mechanism 2023, in a major step to enhance bilateral trade through non-cash exchanges.
According to officials, the updated SRO aims to facilitate smoother barter trade operations between the two neighboring countries by addressing key challenges faced by traders and exporters.
Muhammad Mudassir Tipu, Pakistan’s Ambassador to Iran, confirmed the development, emphasizing that the amendments were the result of extensive discussions between both sides.
Ambassador Tipu stated that “after a comprehensive process of consultations, many of the concerns raised by the business communities in both countries have been resolved in the revised SRO.” He added that the new framework would not only boost Pakistan-Iran trade volumes but also help diversify the range of goods and services exchanged through barter arrangements.
The ambassador urged business leaders, chambers of commerce, and industry stakeholders in both nations to actively utilize the amended SRO to unlock new trade opportunities. He encouraged Pakistan-Iran trade bodies to disseminate information about the revised mechanism among their members to maximize mutual benefits.
The enhanced B2B Barter Trade Mechanism is expected to reduce reliance on dollar-based transactions and strengthen economic cooperation, particularly in energy, agriculture, and industrial sectors between Pakistan and Iran.
