ISLAMABAD: The government will take measures to facilitate transshipment and transit trade with China and Central Asian Republics under which the Federal Board of Revenue (FBR) will issue new Transshipment and Transit Trade Rules.
Sources told Business Recorder, here on Tuesday that the decision was taken during the last meeting of the committee on development of Gwadar held at the Ministry of Maritime Affairs.
The meeting discussed replicating the Afghanistan-Pakistan Transit Trade Agreement (APTTA) Rules for Central Asian Republics and China by the Commerce Ministry and the FBR as well as de-stuffing and cross-stuffing of containers.
According to the sources, the meeting discussed the implementation of policies and procedures, which will lead to more efficient transshipment and transit.
Transshipment and Transit Trade Rules would be notified including China and CARs. Pakistan will ascertain the route from China to Uzbekistan as well as from Afghanistan to Uzbekistan to open trade with CARs as Uzbekistan shares border with all other CARs countries.
It has been agreed that the One Window Act has been passed and now all customs and related clearing and processing would be integrated through one-window system to speed up movement of cargo from port premises.
During the meeting, the customs authorities of the FBR agreed to allow destuffing and cross-stuffing of transit containers to China and CARs, the officials added.
Copyright Business Recorder, 2021