Pakistan and Afghanistan have reportedly agreed to denounce the new transit trade agreement on the basis of valid justification after one year from the date it comes into force, well-informed sources in Commerce Ministry told Business Recorder.The new agreement, Afghanistan Pakistan Transit Trade Agreement (APTTA), will be signed shortly in Kabul by the Commerce Ministers of both the countries.
Foreign Minister, Shah Mahmood Qureshi who had returned from Washington after strategic dialogue with the United States (US) on Sunday shocked journalists by stating that agreement with Kabul has been signed. In fact, both countries had inked record notes in July 2010 but the agreement is yet to be signed. "This agreement may be denounced by either contracting party on the basis of valid justifications thereto, after one year from the date of entry into force, by means of written notification addressed to other contracting party," the sources added.
After signing the agreement and its protocols, if additional amendments are required to the agreement and existing protocols of additional protocols are needed, negotiations of the same will not affect the enforcement and implementation of the agreement with its protocols in its current form, the sources maintained.
The contracting parties may adopt additional protocols to this agreement to be prepared by Afghanistan Pakistan Transit Co-ordination Authority (APTTCA). The Authority shall be co-chaired by the Deputy Minister of Commerce and Industry, Afghanistan and Secretary Commerce Pakistan.
The parties through APTTCA shall endeavour at all times to agree on the interpretation and implementation of the agreement through co-operation to arrive at the mutually satisfactory resolution of any matter that might effect its operation. The request to establish an arbitral tribunal shall include an identification of the measures at issue and an indication of the factual and legal basis.
Both the countries have agreed to build or upgrade the required infrastructure in accordance with international best practices and standards. There shall be freedom of transit through territory of each contracting party via the routes most convenient for international transit, for traffic to or from the territory of other contracting party. No distinction shall be made which is based on flag or the vessel, the place of origin, departure, entry, exit or destination or on any circumstances relating to the ownership of goods, vessels or other means of transport.
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