Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
The 2024 joint statement called for barter mechanisms to be:
A. Fully operationalized
B. Permanently abolished
C. Limited to military goods
D. Transferred to the World Bank
Correct Answer: A
Both sides agreed to make barter arrangements operational.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
Pakistan and Iran have promoted barter trade mainly because of:
A. Payment difficulties and sanctions-related banking constraints
B. A shortage of agricultural products
C. A common currency already in use
D. A ban on all road transport
Correct Answer: A
Barter is intended to support trade where conventional banking channels are constrained.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
The bilateral payment mechanism was described as:
A. An additional mode of settlement
B. The only lawful mode worldwide
C. A permanent currency union
D. A cash-only prohibition
Correct Answer: A
It did not restrict the use of other permissible mechanisms.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
The 2017 payment mechanism was designed primarily to:
A. Facilitate bilateral trade transactions
B. Create a common currency
C. Finance military operations
D. Replace all commercial banks
Correct Answer: A
It provided an additional channel for settlement of permissible trade.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
The Iranian central bank is known in the SBP circular as:
A. Bank Markazi Jomhouri Islami Iran
B. Bank of Persia Limited
C. Tehran Commercial Authority
D. Iran Export Council
Correct Answer: A
The circular refers to BMJII, the Central Bank of the Islamic Republic of Iran.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
The State Bank of Pakistan and Iran's central bank devised a bilateral trade settlement mechanism in:
A. 2017
B. 2004
C. 1992
D. 2024
Correct Answer: A
SBP issued the mechanism in 2017 to facilitate settlement of trade transactions.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
The 2025 leadership discussions reaffirmed the objective of increasing trade from roughly US$3 billion to:
A. US$10 billion
B. US$4 billion
C. US$50 billion
D. US$500 million
Correct Answer: A
The two leaders reaffirmed the mutually agreed US$10 billion target.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
The bilateral trade target agreed in April 2024 was:
A. US$5 billion in one year
B. US$10 billion over five years
C. US$50 billion immediately
D. US$1 billion by 2040
Correct Answer: B
President Raisi and Prime Minister Shehbaz Sharif agreed to target US$10 billion over five years.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
A major Pakistani import from Iran is:
A. LPG and bitumen
B. Tea from Assam
C. Aircraft carriers
D. Timber from Scandinavia
Correct Answer: A
Energy products, bitumen, dates and petrochemical inputs feature prominently in imports.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
Which is also an important Pakistani export to Iran?
A. Sesame seeds and fruit
B. Uranium ore
C. Commercial satellites
D. Large naval vessels
Correct Answer: A
Agricultural products such as sesame, mangoes, bananas and citrus are important exports.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
A major Pakistani export to Iran is:
A. Rice
B. Crude oil
C. Natural gas
D. Passenger aircraft
Correct Answer: A
Rice is among Pakistan's principal exports to Iran.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
Pakistan's imports from Iran in FY 2023–24 were approximately:
A. US$2.1 billion
B. US$684 million
C. US$100 million
D. US$10 billion
Correct Answer: A
Imports were significantly higher than exports, at around US$2.1 billion.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
Pakistan's exports to Iran in FY 2023–24 were approximately:
A. US$684 million
B. US$2.1 billion
C. US$10 billion
D. US$50 million
Correct Answer: A
The official mission profile reports exports of about US$684 million.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
According to Pakistan's Tehran mission, bilateral trade in FY 2023–24 was approximately:
A. US$0.8 billion
B. US$2.8 billion
C. US$8 billion
D. US$20 billion
Correct Answer: B
The official profile reports trade of around US$2.8 billion.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
Pakistan and Iran aim to replace or deepen the PTA through a:
A. Free Trade Agreement
B. Military alliance
C. Currency board
D. Water treaty
Correct Answer: A
Recent joint statements call for expeditious finalization of an FTA.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
The tariff preferences under the PTA covered approximately what share of each country's MFN tariff?
A. 5%
B. 18%
C. 50%
D. 90%
Correct Answer: B
The Ministry of Commerce states that the preferences covered about 18 percent of MFN tariff lines.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
Under the PTA, Iran offered concessions to Pakistan on:
A. 309 tariff lines
B. 338 tariff lines
C. 509 tariff lines
D. 1,000 tariff lines
Correct Answer: A
Iran granted concessions on 309 tariff lines.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
Under the PTA, Pakistan offered concessions to Iran on:
A. 338 tariff lines
B. 309 tariff lines
C. 909 tariff lines
D. 100 tariff lines
Correct Answer: A
Pakistan offered preferences on 338 tariff lines.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
The Pakistan–Iran PTA became operational on:
A. 1 September 2006
B. 4 March 2004
C. 1 January 2005
D. 22 August 1947
Correct Answer: A
The preferential arrangement became operational on 1 September 2006.
Pakistan Affairs (P.A)
1947 - Present - Relations - Pak - Iran Relations
Pakistan's Cabinet ratified the PTA on:
A. 25 May 2005
B. 4 March 2004
C. 1 September 2006
D. 21 April 2021
Correct Answer: A
The Cabinet ratified the agreement on 25 May 2005.