decline in Pakistan’s trade as a proportion of GDP from over 35 percent in 2007-08 to around 31 percent in 2013-14 and concentration of exports in textile, clothing and agriculture sectors.
Khilji provided a detailed overview on the Trade Facilitation Agreement (TFA) under enactment at the WTO.
The TFA is expected to become operational by the end of 2015 upon its rectification by 2/3 rd of the WTO members.
It is expected to bring in substantial savings in time and cost for international trading transactions by expediting movement, release and clearance of goods, and improved cooperation between customs and other authorities of various countries. Dr Usman Narejo, DG (TDAP) thanked the speakers and the audience.
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