TFA to provide facilitation, simplification for international trade: Commerce Minister

ISLAMABAD, Mar 15 (APP):Federal Minister for Commerce Engr.
Khurram Dastgir Khan on Wednesday said that Trade Facilitation
Agreement (TFA) would help provide facilitation, simplification and modernization for international trade between World Tarde Organizations (WTO) members.
Pakistan ratified the TFA in October 2015 and the agreement
has now come into force from February 22, 2017, after ratification from two third members (110) of the WTO,he said this while addressing press conference here Wednesday.
The Minister on the occasion also highlighted the notification of Category “B” and “C” commitment and launched Pakistan’s effective
implementation of the WTO’s Trade Facilitation Agreement (TFA).
Khurram said that WTO members concluded negotiation on a TFA
in 2013 at Bali ministerial conference,which also set out measures for effective cooperation between customs and other authorities on trade facilitation and customs compliance issues.
The Minister said that Commitment under TFA are categories in
three steps,adding that category A was already in place and immediately enforceable.
He added that category B to be notified and immediately
implemented with in one to two years after a transition period.
Commenting on category C, he said that commitment requiring
technical assistance by donors and would be implemented in coming five years.
This , he said was also an endorsement of the Prime Minster Muhammad Nawaz Sharif vision for regional and international trade to maintain procedure for transparency and increasing investment flow.
He said that this agreement to influence the trade between the
whole world,adding that through this agreement countries would increase the trade facilities and regulation.
He added that TFA would also evolve balance between regional
and international trade.
The minister said the agreement would also help improve
transparency ,increase possibilities to participate in global value chains to reduce corruption.
Replying to a question,he said that Pak Afghan trade should
be needed to regulate and be separated from security issues.
He said that Prime Minister Package for enhancing export would
also help to increase the country’s exports and benefitted the local exporters.
Replying to another question, he said that Pakistan Free Trade
Agreements (FTAs) with Turkey, Thailand and with China Phase II was
in negotiation,adding that interest of both side to be ensured in
agreement