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KARACHI: Pakistan’s Economic Coordination Committee (ECC) on Thursday approved amendments to a barter trade mechanism with Afghanistan, Iran and Russia, in a move aimed at facilitating direct business-to-business exchanges with the three countries.

The decision came at an ECC meeting chaired by Finance Minister Muhammad Aurangzeb, which also cleared a series of supplementary grants and considered a financial support proposal for the Roosevelt Hotel in New York owned by Pakistan International Airlines.

“The ECC approved a draft Statutory Regulatory Order (SRO) as proposed by the Ministry of Commerce, aimed at amending the Business-to-Business Barter Trade Mechanism governing bilateral trade with Afghanistan, Iran, and Russia,” the finance division said in a statement.

Pakistan has maintained barter trade arrangements with these countries not only to ease pressure on its dollar reserves and maintain access to essential imports but also because both Iran and Russia face Western sanctions, with formal banking channels restricted and making it difficult to settle payments in hard currency.

Barter trade provides a practical workaround by allowing Pakistan to exchange goods directly, such as rice, textiles and surgical equipment, in return for oil, wheat, fertilizers and machinery.

The arrangement also works with Afghanistan, a key overland trade route and source of basic commodities like coal, fruits and vegetables.

The ECC also considered a summary from the interior ministry regarding financial support in the form of a technical supplementary grant (TSG) to the Roosevelt Hotel in New York, following the termination of its lease agreement with New York City.

The hotel, a century-old Manhattan property, is considered one of the country’s most valuable foreign assets that the government has been striving to privatize, with interested international consortia submitting their bids last month to advise the government on the process.

ALKHOBAR: The King Abdulaziz Center for World Culture has launched an ambitious cultural program to transform a centuries-old Saudi craft into a driver for art, design, and innovation.

Ithra has unveiled the Khoos Initiative, which is designed to preserve the traditional craft of palm weaving.

Anchored in Al-Ahsa, home to the world’s largest date palm oasis and a UNESCO World Heritage Site, the initiative blends heritage with innovation, positioning Saudi palm weaving as a platform for global creativity.

Palm weaving, or khoos, has long been associated with daily life in ����ֱ��, and produces baskets, mats, and functional household objects. Ithra’s initiative reframes the tradition for the 21st century.

Ala’a Al-Qahtani, creative programs specialist at Ithra, said: “The Khoos Initiative was launched to reimagine palm weaving through the lens of contemporary craft, moving it beyond functional objects into new expressions in art, design, fashion, and architecture.

“The goal is not only to preserve heritage but to evolve it into a space where tradition meets innovation.”

Artisans collaborate through the program with designers, architects, and creatives from around the world. Their work explores new forms, pushing palm weaving into contemporary art, fashion, and architecture while retaining its cultural roots.

Al-Ahsa’s significance is central. In addition to being the Kingdom’s palm heartland, it is also a cultural anchor for identity and craftsmanship.

Al-Qahtani told Arab News: “Al-Ahsa is the heart of palm weaving in the Kingdom. By anchoring the initiative here, we support local craftspeople while also positioning Al-Ahsa as a hub of cultural dialogue.”

The initiative highlights palm weaving not only as a Saudi tradition but as part of a global heritage shared across regions with palm ecosystems. This cross-cultural resonance, Al-Qahtani noted, makes the craft “a cultural bridge, strengthening both local identity and global understanding.”

While innovation is key, protecting authenticity was a challenge at the start.

“The main challenge was maintaining the authenticity of palm weaving while bridging it to contemporary practices,” Al-Qahtani said. “We addressed this by engaging traditional artisans alongside contemporary designers, in signature commissions, and through our residency program encouraging dialogue between the two. This ensured that while the roots of the craft remain intact, it can evolve and adapt to new contexts, making it relevant in today’s cultural and creative landscape.”

This approach has produced dynamic exchanges: Artisans safeguard knowledge passed down for generations, while young designers and international creatives introduce fresh perspectives.

The Khoos Initiative also speaks directly to ����ֱ��’s Vision 2030’s goals of expanding the creative economy and strengthening cultural diplomacy.

“The Khoos Initiative is a direct reflection of Vision 2030’s cultural objectives. It protects a unique aspect of Saudi heritage while also transforming it into a driver for creativity, education, and new economic opportunities,” said Al-Qahtani.

“By linking palm weaving to contemporary art, design, and global collaborations, the initiative not only preserves tradition but also contributes to ����ֱ��’s cultural diplomacy and creative economy.”

Palm weaving has traditionally been carried forward by women in local communities, and their expertise remains crucial. But the future lies in dialogue between generations.

Al-Qahtani said: “Women and young creatives are at the core of the Khoos Initiative. Women have traditionally carried the knowledge of palm weaving, and their expertise is essential for keeping the craft authentic. At the same time, young people bring new perspectives and creative energy that help reimagine the craft for contemporary contexts such as fashion, architecture, and design.”

This exchange ensures that palm weaving continues as a vibrant cultural practice, rooted in heritage but alive in new creative spaces.

Running until March 2026, the initiative includes “The Palm Tree Exhibition” at Ithra. The program also extends beyond Saudi borders as Ithra is presenting at UNESCO’s MONDIACULT 2025 in Barcelona and at the ICOM General Conference in Dubai.

With artisans and designers helping to showcase the craft internationally, Ithra positions Saudi palm weaving as both cultural memory and global innovation.

For Al-Qahtani, that is the real success: a craft that once lived quietly in oases now commands a place in the world’s creative conversation.