KARACHI: Zakaria Usman, President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has stressed a need to form customs union between Pakistan and Afghanistan to remove complications of tax mechanism within transit trade agreement. According to press release issued on Monday, as business community facing various problems in trade through Afghanistan-Pakistan Transit Trade Agreement however, Pakistan is most important trade partner of Afghanistan but the bilateral trade between the countries is not reflecting in true spirit. He said that non-tariff-barriers (NTBs) and other obstacles should be removed including trade development and economic relations should be made stronger. Usman said, “If customs union is formed between both countries, this will facilitate the smooth and frictionless transportation of commodities across the borders and the subsidiary issues related with the collection mechanism, tax and tariff will be automatically removed.” He also emphasized on exploration of new joint business avenues in various sectors and frequent exchange of trade delegations to enhance business activity between both the countries. Usman further added that though trade is allowed through Chaman Border to Central Asian countries but ground realities are otherwise.
Posted on: Tue, 28 Oct 2014 19:56:15 +0000
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