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Pakistan, Turkey sign MoU for cooperation on Trade and Customs

MOU to enhance Electronic Data Exchange of information and documents regarding international movements of the goods and vehicles - A memorandum of understanding (MoU) was signed yesterday between the Ministry of Trade of the Republic of Turkey and the Federal Board of Revenue (FBR) on trade facilitation and customs cooperation matters.

The MoU was signed by Turkish trade minister Ms Ruhsar Peckan, and Adviser to the Prime Minister on Finance and Revenue Abdul Hafeez Sheikh at the PM House in Islamabad.

According to a press statement, the FBR identified a number of countries, including Turkey, for Cooperation and Mutual Assistance in Customs Matters in order to strengthen Customs controls and meet challenges arising from expansion and diversification of Pakistan’s international trade.

Enhancement of Customs cooperation (and signing of the subject MoU), therefore, was very important in backdrop of the Turkish President’s current visit to Pakistan, the statement added.

As a result of mutual communication, the FBR received a draft MoU on the subject matter which was circulated to all stakeholders and after the requisite input, the same was finalized with the Turkish side.

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