Afghanistan-Pakistan Transit Trade Agreement will result in increased revenues

KARACHI: Afghanistan-Pakistan Transit Trade Agreement (APTTA) is not against the interests of Pakistan and will result in increased revenue for the country by providing access to landlocked Central Asian markets.

Zafar Mahmood, Secretary Commerce at the Overseas Investors Chamber of Commerce and Industry (OICCI) suggested its members to facilitate commerce and industry in the country.

The OICCI members highlighted key issues faced by the multinational companies in Pakistan, including circular debt, the patent issues faced by the pharma sector, cross border trade with India as well as the security situation in Karachi which members stated was disrupting business.

OICCI complemented secretary commerce on achieving record level of exports, especially for textiles and agri-based products, which have helped improve the balance of payments and foreign exchange reserves in the country.

On the matter of APTTA, he clarified APTTA does not cover goods that are bound for Afghanistan for the International Security Assistance Force (ISAF) since this was a military agreement and the Ministry of Commerce was not involved in it.

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