ISLAMABAD: Pakistan and Iran on Monday signed a memorandum of understanding (MoU) to devise a mechanism for electronic exchange of bilateral trade data to exploit the true economic potential between the two neighboring countries and curb misreporting that deprives the Pakistani authorities of much needed revenue, reported the local media.
According to Associated Press of Pakistan, the MoU was signed between Pakistan’s Federal Board of Revenue and Iran’s Customs Administration.
The two countries had previously signed a Customs Mutual Assistance Agreement in March 2004, and the recent MoU was deemed necessary by the Pakistani authorities to protect their country’s economic interests within that framework.
” It was also emphasized to exchange values or documents on real time basis in case of the goods to be imported or exported and to roll-out a fully automated clearance system having advance information about goods and passengers at Taftan – Mirjaveh Border stations (as a pilot project) and at other border stations in a phased manner,” said the APP report.
It may be recalled that the two countries held a three-day border management meeting in Quetta earlier this year wherein Balochistan’s Home Minister Meer Ziaullah Langove led the Pakistani side.
The aim of the meeting was to develop effective responses to terrorism, arms trafficking and human smuggling.
All these developments are part of the bilateral efforts made by the administrations in Tehran and Islamabad to organize the border better to maximize their trade potential.
Comments
Post a Comment