ISLAMABAD: Pakistan and China today [April 27] signed a barter agreement under which goods worth Rs 11,00,00,000 will be exchanged both ways during the next year, official sources said.

The agreement was signed by Mr V.A. Jafarey, Joint Secretary, Commerce, and the Chinese Charge d’Affaires, Mr Hsu Ying. It came into effect today, and will last for a year.

Official sources said today’s barter agreement was just one of the several trade agreements between Pakistan and China, and was a part of the overall trade. This protocol had been concluded within the framework of the Pakistan-China trade agreement signed in 1963.

Pakistan also imports several items from China under credit or other special arrangements, besides barter. A barter agreement was signed earlier this year to import cement.

Under the protocol signed today Pakistan will export to China items including raw jute, raw cotton, jute goods, cotton yarn, cotton textiles, surgical instruments, fruit juices, cutlery and medicinal herbs.

China will export to Pakistan tools and workshop equipment, structural steel, dyes and chemicals and Pharmaceuticals among other things.

Published in Dawn, April 28th, 2018