U.S./Malaysia/Pakistan Cooperation to Develop Trade Potential
On August 22-26, 2016, CLDP and the International Trade Administration (ITA) collaborated with the Royal Malaysian Customs Department to hold a consultation for senior officials from the Pakistan Federal Board of Revenue and the Pakistan Ministry of Commerce in Putrajaya, Malaysia on customs reforms and procedures to enhance trade.
Last year, Pakistan became the first country in South Asia to ratify the World Trade Organization (WTO) Trade Facilitation Agreement (TFA). Reforms under this agreement will improve efficiency and transparency for businesses, allowing countries to develop more fully their export potential and to advance investment opportunities. The week-long exchange, sponsored in cooperation with the U.S. Embassy in Islamabad and the U.S. Agency for International Development (USAID), featured discussion of issues key to reducing transaction costs and promoting export-led growth in Pakistan, including risk management, advance rulings, valuation and classification, and customs appeals. The consultation is the second phase in a series of programs conducted by CLDP and ITA in partnership with the Government of Pakistan under the TFA.