PM Shehbaz Approves Establishment Of Trade Facilitation Board
PM Shehbaz Sharif on Thursday approved the establishment of a Trade Facilitation Board, which he will chair personally, to streamline Pakistan's trade processes and address non-tariff barriers to cross-border commerce.
During a meeting on trade facilitation, the Prime Minister stated that the board would aim to improve the entire trade supply chain and resolve issues related to international trade. Key initiatives include:
- Roadmap for Trade Promotion: The board will develop a strategy to foster trade growth.
- Trade Facilitation Index: A metric to gauge and enhance trade efficiency.
- Monitoring Mechanism: Tracking progress and ensuring accountability.
Shehbaz Sharif directed urgent efforts to enhance port capacity, emphasizing coordination among relevant departments, regulatory compliance, pre-arrival clearance, and encouraging small and medium-sized enterprises (SMEs) in international trade. He also instructed simplifying procedures for importers and exporters at ports, prioritizing business community needs.
The meeting highlighted successful reforms leading to reduced port charges and improved utilization. It was noted that the pre-arrival declaration system is expanding, expediting clearance processes.
Attended by several ministers and senior officials, this strategic initiative reflects Pakistan's commitment to streamlining trade and fostering a conducive business environment.