{"id":99676,"date":"2024-10-06T10:00:00","date_gmt":"2024-10-06T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=99676"},"modified":"2024-10-04T12:39:42","modified_gmt":"2024-10-04T07:39:42","slug":"pakistan-russia-signs-first-ever-barter-trade","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pakistan-russia-signs-first-ever-barter-trade.html","title":{"rendered":"Pakistan to export rice, potatoes to Russia, barter trade deal signed"},"content":{"rendered":"\n<p>Islamabad: Pakistan and Russia have signed their first-ever barter trade agreement during the inaugural Pakistan-Russia Trade Forum, as reported by the news agency on October 02.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/paks-it-exports-record-33-84-growth.html\">Pak\u2019s IT exports <\/a><a href=\"https:\/\/www.zameen.com\/news\/paks-it-exports-record-33-84-growth.html\" target=\"_blank\" rel=\"noreferrer noopener\">record 33.84% gr<\/a><a href=\"https:\/\/www.zameen.com\/news\/paks-it-exports-record-33-84-growth.html\">owth in 1st month of FY 2024-25: PBS<\/a><\/p>\n\n\n\n<p>As per details, the deal is a significant step toward bolstering economic ties, and will see the exchange of agricultural products between the two nations, bypassing traditional payment methods.<\/p>\n\n\n\n<p>Due to payment constraints caused by Western sanctions imposed on Russia following its 2022 invasion of Ukraine, Moscow is increasingly turning to barter deals as a solution. These agreements allow both nations to sidestep currency risks, reduce trade visibility to Western nations, and avoid the complications of international payment systems.<\/p>\n\n\n\n<p>Under the terms of the agreement, Russia\u2019s Astarta-Agrotrading will supply 20,000 tones of chickpeas to Pakistan in exchange for 20,000 tones of rice from Pakistan\u2019s Meskay &amp; Femtee Trading Company. A second deal will involve the trade of 15,000 tones of chickpeas and 10,000 tones of lentils from Russia for 15,000 tones of mandarins and 10,000 tonnes of potatoes from Pakistan.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/pbf-looks-tax-support-aid-economy.html\" target=\"_blank\" rel=\"noreferrer noopener\">PBF calls for taxpayer support, recommends export diversification<\/a><\/p>\n\n\n\n<p>Both companies have yet to issue official statements regarding the agreements. Speaking at the forum, a Pakistani official emphasised the difficulties both countries face in conducting financial transactions due to the current geopolitical climate. \u201cRussia and Pakistan are facing significant challenges in executing mutual payments,\u201d the official noted. \u201cAs a result, these companies have opted to initiate a barter trading mechanism.\u201d<\/p>\n\n\n\n<p>Barter trade has become an increasingly attractive option for Russia, especially in its growing trade relationship with China. Sources have indicated that the first agriculture-related barter deals between Russia and China will be implemented later this year. In February, Russia\u2019s economy ministry issued guidelines for businesses on how to execute barter deals effectively and avoid potential issues. Industry insiders confirmed that barter arrangements between individual companies in Russia and China are already underway.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/pak-it-sector-reports-notable-growth.html\" target=\"_blank\" rel=\"noreferrer noopener\">PAK\u2019s IT sector sees 14.9% growth in exports<\/a><\/p>\n\n\n\n<p>This landmark agreement marks a pivotal moment in the economic relationship between Pakistan and Russia, signaling new avenues for trade cooperation amid global challenges.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Pakistan and Russia have signed their first-ever barter trade agreement during the inaugural Pakistan-Russia Trade Forum, as reported by the news agency on October 02. Read: Pak\u2019s IT exports record 33.84% growth in 1st month of FY 2024-25: PBS As per details, the deal is a significant step toward bolstering economic ties, and will see the exchange of agricultural products between the two nations, bypassing traditional payment methods. Due to payment constraints caused by Western sanctions imposed on Russia following its 2022 invasion of Ukraine, Moscow is increasingly turning to barter deals as a solution. These agreements allow both nations to sidestep currency risks, reduce trade visibility to Western nations, and avoid the complications of international payment systems. Under the terms of the agreement, Russia\u2019s Astarta-Agrotrading will supply 20,000 tones of chickpeas to Pakistan in exchange for 20,000 tones of rice from Pakistan\u2019s Meskay &amp; Femtee Trading Company. A second deal will involve the trade of 15,000 tones of chickpeas and 10,000 tones of lentils from Russia for 15,000 tones of mandarins and 10,000 tonnes of potatoes from Pakistan. Read: PBF calls for taxpayer support, recommends export diversification Both companies have yet to issue official statements regarding the agreements.&hellip;<\/p>\n","protected":false},"author":89,"featured_media":98260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[59592,59591,56222,59445,59590,59593,54568],"persona":[],"class_list":{"0":"post-99676","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-astarta-agrotrading","9":"tag-first-ever-barter-trade-deal","10":"tag-news-and-updates","11":"tag-pak-russia-2","12":"tag-pak-russia-barter-trade-deal","13":"tag-pak-russia-updates","14":"tag-zameen-news","15":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pakistan, Russia Signs First-Ever Barter Trade - Zameen News<\/title>\n<meta name=\"description\" content=\"Russia and Pakistan sign first ever barter deals, exchanging chickpeas and lentils for rice, mandarins, and potatoes.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/pakistan-russia-signs-first-ever-barter-trade.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan, Russia Signs First-Ever Barter Trade - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Russia and Pakistan sign first ever barter deals, exchanging chickpeas and lentils for rice, mandarins, and potatoes.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pakistan-russia-signs-first-ever-barter-trade.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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