Trade documents to be harmonised with world standards

The Government of Pakistan has decided to harmonise trade documents with international standards based on the United Nations Layout Key (UNLK) that has also been adopted by the International Standards Organisation (ISO).
The United Nations has developed a standard format for trade documents based on the UNLK and the National Trade & Transport Facilitation Committee (NTTFC), a standing committee established by the Ministry of Commerce, has been assigned the task of harmonisation.
Since commercial invoice is a vital document in trade transactions, it has to be harmonised according to international standards. NTTFC has designed a standard commercial invoice in accordance with UNLK and its format was forwarded to trade bodies in February 2005, and again in December 2006, but so far no information has been received by NTTFC regarding its adoption.
The trade bodies were again reminded in this respect on June 15, 2007, as adoption of international standards has now become extremely important for international trade. NTTFC has taken an additional step to translate the guidelines into Urdu for simplification and better understanding of invoice.
The commercial invoice, in addition to playing an essential role in the commercial transaction, has an important function as a source of information and supporting document for administrative procedures in the importing and exporting countries.
In Pakistan, NTTFC is developing a set of national aligned documents complying with UNLK. So far, ''certificate of origin'', ''phytosanitary certificate'' and ''goods declaration'' forms have been redesigned. Considering the importance of commercial invoice, it has also been included in the national set of ''aligned documents''.
Business and public agencies in Pakistan, which still make significant use of paper forms, should, at the very least, apply and reap the benefit of the work of standard trade documentation carried out by the United Nations Economic Commission for Europe (UNECE) and is embodied in the Aligned Document System (ADS), based on the UN Layout Key.
Familiarity with such standards and their effective use will give Pakistan access to a global highway for data management of the international trade transaction. Though much less glamorous than many public exhortations and incentives to compete in the global market place, it can be greatly more relevant to day-to-day success and profitability. Customs Appraisement Collectorate had also advised the exporters to use the model commercial ''invoice'', based on UNLK, for all international transactions to achieve the object of standardised international trade documents in conformity with international practices.