Federal Secretary Commerce Munir Qureshi said that he would look into the proposal of barter trade with Iran, which can be a big market of Pakistani rice.

He agreed that there were some complications in the currency exchange with Iran due to sanctions and assured Rice Exporters Association of Pakistan (REAP) its proposal of ‘barter trade’ would be looked into.

Qureshi was speaking at an Iftar reception arranged by the REAP in his honour. Reception was also addressed by the REAP Chairman Javed Islam Agha and former Lahore Chamber of Commerce and Industry (LCCI) president and REAP chairman Shahzad Ali Malik, while it was attended by prominent rice exporters and businessman including SAARC Chamber of Commerce Vice Chairman Iftikhar Ali Malik, LCCI President Irfan Qaiser Sheikh, Malik Jehangir, Tariq Aziz and others.

The commerce secretary assuring full support to the REAP in resolution of its genuine problems, said that the associations of businessmen and traders play a very important role in strengthening of a sector and ensuring its progress. He said that he would take an appropriate step on abolishing the condition of a rice exporters being member of the REAP. He said that he would also look in to the issue of barter trade with Iran, which can be a big market of Pakistani rice.

He also asked the exporters to look in to the potential markets like Iraq and other countries to increase the rice exports from Pakistan. He said certainly Iraq was a big market for Pakistani rice but at the same time he advised the rice exporters to check those elements that were bringing a bad name to the country and the rice trade by selling adulterated or substandard rice. He said that such people damage the whole sector for the sake of some additional profit.

Regarding the issue of GI laws raised by the REAP chairman in his welcome address, the commerce secretary said that he would check the status of the issue next week. He also advised the rice exporters to sit with the basmati growers to resolve the issue of trademark in an amicable way. He invited the rice exporters to Islamabad and said that as they were in the rice trade they should guide the ministry as to how to tackle the issues such as allowing what sort of foreign seed or sorting out other issues. He also assured REAP members to take up their issues in the upcoming trade policy meeting scheduled for Tuesday next.