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Af-Pak annual trade volume falls to $700m

Af-Pak annual trade volume falls to $700m

Nov 16, 2017 - 08:14

PESHAWAR (Pajhwok): Tariff and non-tariff barriers have led to a free fall in trade between Afghanistaninfo-icon and Pakistaninfo-icon, say business community leaders.

The annual bilateral trade volume had dropped from $2.5 billion to $700 million, Sarhad Chamber of Commerce and Industry (SCCI) President Zahidullah Shinwari said,

While opposing new documentation for trade with Afghanistan, he warned trade between the neighbours would further decrease as a result of the new restrictions.

At a meeting with customs clearing agents from Torkham, Shinwari said recently the Model Customs Collectorate (MCC) in Peshawar recently issued new documentation for exports to Afghanistan.

The measure had caused serious problems for both the customs clearing agents and traders, he said, adding about 18,000 export vehicles previously used to cross into Afghanistan on a daily basis.

“But after the fresh documentation condition, hardly 250 such vehicles leave for the neighbouring country daily,” Shinwari explained, asking the Federal Board of Revenue to scrap the formality.

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