The Wednesday meeting, meanwhile, itself involved senior trade officials from all of the other member states. The members noted that the pandemic would have a considerable adverse impact in terms of international trade, and suggested working on ways to sustain and expand regional trade until normalcy returns to transcontinental trade. “The imperative need to maintain essential trade within the SAARC region was viewed as an important thrust area for favourable consideration,” the Indian external affairs ministry said in a statement regarding the moot. The participants also proposed to remain in close contact on the issue through designated focal persons, with India ‘offering’ to take on a coordination role. A few interesting trade-specific details were also discussed. These included the easing of cross-border trade with proposals such as the provisional clearance of imports at preferential duty rates under suitable conditions. There was also a suggestion to allow provisional acceptance of digitally-signed certificates of origin, and the acceptance of scanned copies of documents for customs clearance of imports and the release of payments by banks.
Pakistan may have missed out on these, but all in all, the decision to sit out appears prudent.
Published in The Express Tribune, April 10th, 2020.
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