BREAKING NEWS

Iran, Pakistan 'in talks on wheat barter deal'

By REUTERS

FEBRUARY 24, 2012 11:44

ISLAMABAD - Iran has asked to import a million tons of wheat from Pakistan in a barter deal, a senior official in Islamabad said on Friday, as Tehran faces disruption to its food imports because of US and European Union sanctions.

Iran would export iron ore and fertilizer to Pakistan in exchange for wheat, said Syed Naveed Qamar, Pakistan's minister for water and power, according to the state news agency.

Qamar added that Iran would also import 200,000 tons of Pakistani rice.

"Some things need to be worked out before we can say for sure if and when this will happen," a senior official at the Commerce Ministry told Reuters on Friday, requesting anonymity because he is not authorized to speak to the media.

"There are payment issues because of sanctions and that makes such trades more difficult than usual."

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