Turkish Ministry of Trade, FBR sign MoU

A memorandum of understanding (MoU) has been signed between the Ministry of Trade of the Republic of Turkey and Federal Board of Revenue (FBR) on trade facilitation and customs cooperation matters in Prime Minister House. The MoU was signed by the Turkish Minister of Trade, Ruhsar Peckan, and the Adviser to Prime Minister on Finance and Revenue, Abdul Hafeez Sheikh.

Background of the subject achievement is that Federal Board of Revenue identified a number of countries, including Turkey, for cooperation and mutual assistance in Customs matters in order to strengthen Customs controls and meet the challenges arising from expansion and diversification of Pakistan's international trade. Enhancement of Customs cooperation (and signing of the subject MoU), therefore, is very important in backdrop of the Turkish President's current visit to Pakistan.

As a result of mutual communication, Federal Board of Revenue received a draft MoU on the subject matter which was circulated to all stakeholders. After the requisite input, the same has been finalized with the Turkish side. The subject MoU is finalized in furtherance of the "Agreement Between the Republic of Turkey and the Islamic Republic of Pakistan on Co-operation and Mutual Assistance In Customs Matters" signed in Ankara on 20.06.2002.

The areas wherein customs cooperation would be undertaken with Turkish Ministry of Trade and Customs Agency, under this MoU include the cooperation for establishment of Electronic Data Exchange for exchange of information and documents regarding international movements of the goods and vehicles between the parties. It also includes assistance to each other in order to improve customs practices between the two countries. Both countries shall communicate, share and exchange all available information relating to imports, exports, and transit operations. The two countries will cooperate in combating different smuggling methods and customs offences.-PR