ISLAMABAD: The new Afghanistan-Pakistan Transit Trade Agreement (APTTA), signed a couple of months ago, would come into force today (Saturday).
In this connection, first meeting of the Afghanistan-Pakistan Transit Trade Coordination Authority (APTTCA) started here on Friday. Secretary Commerce Zafar Mahmood and Afghan Deputy Minister for Commerce and Industries Muhammad Sharif Sharifi co-chaired the meeting.
During the deliberations, both sides discussed issues related to implementation of the new transit trade accord. The issues included installation of a tracking system, depositing bank guarantees and international requirements for transport through sealed trucks.
Secretary Commerce Zafar Mahmood said that being an important trading partner, Pakistan attached high importance to Afghanistan, adding that the new agreement was a far better document, based on international best practices.
He highlighted that the main concern of the business community had been smuggling due to transit trade, but expressed satisfaction that the new accord provided for a comprehensive inbuilt mechanism to address the issue of unauthorised trade. Sharifi, in his opening remarks, said both, Pakistan and Afghanistan enjoyed historical trade and economic relations and the two sides would work hard to sort out all problems in the implementation of the trade agreement.
Published in The Express Tribune, February 12th, 2011.
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