Pakistan Beats India and Bangladesh in the Trading Across Border Index


Pakistan has achieved a big victory on the international trade and business. Reportedly Pakistan has achieved the victory by beating its neighbors, India and Bangladesh in the Trading Across Border Index. According to an official statement of the Federal board of Revenue FBR, Pakistan has made a remarkable improvement in implementation of the World Trade Organization’s (WTO) agreement known as Trade Facilitation Agreement TFA. In a press release FBR claimed that Pakistan has made improvement in this regard from 34% in June 2018 to 79% in November 2020 and according to the Global Fund’s Annual Ease of Doing Business 2020 Report, advanced the 31 positions reaching to 108th position from the 136th position.
Pakistan has beaten the Bangladesh and India and all other average WTO members. According to report Pakistan is greater in implementing the TFA and the implementation rate of Bangladesh is 36.1% and India is 78.2 % and the average members of WTO stand on 65.5%.
Trade Facilitation Agreement TFA is a an effective tool to boost and stabilize the economy, produce more chances for international investment, expanding exports and producing more and more job opportunities as well. FBR practically worked on the framework given by the Prime Minister Imran Khan to improve and grow the import exports and transit for the economical stability and development internationally.
For the proper and successful implementation of the WTO’s TFA in Pakistan, Chairman FBR has formed special project teams to facilitate the national, regional and international trade. Under the PM’s directive the FBR has implemented the following reforms:
1. Authorized Economic Operators (AEO) Program
2. Advance Ruling
3. Electronic Payments
4. Pre-Arrival Processing
5. Freedom of Transit
6. Opportunity to comment and information before entry
7. Temporary Admission of Goods and Inwards
8. Outward Processing
9. Risk Management
10. Post Clearance Audit
WTO claims that it is very hard to successfully implement these reforms and provisions for Single Window and Border Agency Cooperation. Despite this in collaboration with World Bank and Asian Development Bank ADP, the remarkable performance was carried out with duly implementation of the TFA by Pakistan.

VN:F [1.9.22_1171]
Rating: 0.0/10 (0 votes cast)
VN:F [1.9.22_1171]
Rating: 0 (from 0 votes)


Comments are closed.