The Sarhad Chamber of Commerce and Industry (SCCI) has urged the State Bank of Pakistan (SBP) to establish a proper mechanised banking channel to support trade and financial transactions with Central Asian countries. In a meeting held to discuss trade difficulties with the regional nations on Monday, Acting SCCI President Imran Khan stressed the need to upgrade Web-based one Customs system (WeBoC) for facilitation of trade with Central Asian countries. He noted that the importance of geographical aspects of Khyber Pakhtunkhwa (K-P) cannot be overlooked, as K-P has the advantage of connecting South Asia with Central Asia and Eastern Europe. “If this advantage was utilised properly, then K-P would become a hub of trade which would pave the way for economic stability, prosperity and development in the country,” he said. He informed the meeting participants that his chamber had inked an agreement with Uzbekistan and Surkhandarya Chambers and it was likely to reach agreements with Tajikistan, Turkmenistan, Kyrgyzstan and Kazakhstan in near future.
Published in The Express Tribune, October 26th, 2021.
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