Pakistan is celebrating the International Customs Day on 26 January 2018, along with other member countries of the World Customs Organization, to acknowledge the contribution of Customs institutions around the world in maintaining secure borders in relation to the transnational movement of goods, and thereby preserving the economic interests of their respective nations.
The World Customs Organization has dedicated 2018 to strengthening the security of the business environment along the theme "A Secure Business Environment for Economic Development." Indeed, the present day dynamics of international trade and global markets make this theme very pertinent, especially when the international trade supply chain is under constant threat from both global terrorist organisations and crime syndicates. I am happy to note that Pakistan Customs has made consistent efforts to improve the security of international trade in an unpredictable and ever-evolving environment. These efforts include the launch of the e-government initiative "Web Based One Customs" which has, inter alia, enabled effective data analysis for risk management, thereby allowing Pakistan Customs to accurately predict when and where to deploy resources and target interventions.
On the other hand, a secure business environment also requires client-friendly institutional structures and policy frameworks. Over the last four and a half years, the Federal Government has reformed many dimensions of Pakistan's taxation system to make all levies, impositions, duties and tariffs business-friendly. This is an important component of our larger strategy to strengthen Pakistan's economy to promote entrepreneurship, incentivize trade and commerce, and promote industry. The objective is also to generate higher revenues for social and economic development through an optimal expansion in the tax base despite a reduction in the tax rates.
Furthermore, Pakistan has achieved important milestones in international trade facilitation, including ratification of the Convention on International Transport of Goods Under Cover of TIR Carnets and WTO's Trade Facilitation Agreement. With the completion of the CPEC, Pakistan is expected to become a hub of regional trade, for which the Federal Government is making every effort to further enhance the security of the business environment and to modernise customs procedures by employing state-of-the-art non-intrusive inspection technologies as well as by ensuring deeper inter-agency cooperation in the sharing of advance information and data.
I would like to avail this opportunity to appreciate the hard work done by Pakistan Customs and the Federal Board of Revenue to make our borders secure, facilitate legitimate trade and promote entrepreneurship and economic growth in the country. 'A secure business environment for economic development'
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