The federal cabinet on Wednesday (January 17) will approve ratification of the agreement on cooperation and mutual assistance in customs matters between Pakistan and United Arab Emirates (UAE).
Sources told Business Recorder on Tuesday that both the countries had inked the agreement in Dubai on September 17, 2006. The agreement provides a legal framework for mutual administrative assistance in customs matters covering authentication of import and export documents in relation to the movement of goods between the two countries. It also included provision of customs data on bilateral trade, interdiction of illicit trafficking of contraband or sensitive items and surveillance of goods identified by each customs administration in conformity with its operational interests.
Sources said that the agreement also contains provisions for simplification of customs formalities between Pakistan and UAE and provision of technical assistance in terms of sharing knowledge on a advance customs controls and training and retraining of each other's personnel. The Central Board of Revenue had earlier obtained an approval from the cabinet for signing of the agreement. The implementation of the agreement is now subject to ratification by both the countries. Accordingly, the CBR has proposed that that the federal cabinet may approve the ratification of this agreement.