Pakistan, Afghanistan sign memorandum to boost trade cooperation

By: News Desk      Published: 11:45 PM, 27 Oct, 2020
Pakistan, Afghanistan sign memorandum to boost trade cooperation
–File photo

The customs departments of Pakistan and Afghanistan on Tuesday signed a memorandum to promote cooperation between the two countries. 

Customs Operations Member Syed Muhammad Tariq Huda from the Pakistan side and Director General of Afghan Customs Department Khalilullah Salehzada signed the memorandum. Afghanistan’s Commerce and Trade Minister Nisar Ahmad Ghoriyani and Chairman of the Pakistan’s Federal Board of Revenue Muhammad Javed Ghani were also present on the occasion. 

The memorandum on customs cooperation between Pakistan and Afghanistan has been signed on the instructions of Prime Minister Imran Khan. 

According to the memorandum, customs departments of both countries would share information electronically and cargo clearance would be done in minimum possible time. This step will help boost imports and exports as well as transit cargo trade between the two neighbouring countries. The memorandum will also help curb smuggling of various goods between the two countries in an effective manner. This memorandum will help in bringing duties and taxes down and boosting cooperation between the customs departments of the two countries. The memorandum will promote trade in the entire region. 

Per the memorandum, clearance and service delivery at border crossing points would be improved. The customs departments of both countries would have knowledge of goods and transport movement in advance. 

Salehzada said that a new era of trade would begin after signing of this agreement, which would also improve trade security in the two countries. The Afghan customs department director-general said there were abundant opportunities between the two countries to increase trade. A good number of businessmen from the two countries was also present on this occasion.