ISLAMABAD: Pakistan Single Window (PSW) and the General Administration of Customs People’s Republic of China (GACC) have formed a Joint Working Group (JWG) on cooperation for a proposed integration.
The first consultation session between the two sides was held virtually in March 2022, attended by officials from the PSW Company, China Customs, and the Federal Board of Revenue. During the consultation session, presentations were given by China Customs and PSW on their respective single window programs followed by a focused discussion on the cooperation mechanism and scope of data exchange. The two sides agreed to establish a JWG to devise the coordination mechanism and facilitate technical discussions between the two sides for the proposed integration.
The GACC and Pakistan Customs are already exchanging trade valuation data through the Electronic Data Exchange mechanism. The data exchange helps both sides to detect under/overinvoicing and counter trade-based money laundering in bilateral trade. Integration between the two single windows will expand the scope of the current data exchange to include full transmission of the Goods Declaration data, Phyto-sanitary certificates, Certificates of Origin, and shipping and logistics data to enable execution of advanced risk management techniques and expeditious clearance of goods. Both sides have also agreed to cooperate on the implementation of blockchain technology on the lines of similar initiatives being implemented by GACC with other countries.
China is Pakistan’s biggest trading partner being the top country of origin for import of industrial and consumer goods and the second-biggest export destination after the United States.
Under the PSW initiative, the Government of Pakistan is digitizing the entire cross-border trade ecosystem and intends to integrate with regional and global data platforms on trade finance, shipping, and customs clearance. The PSW began rolling out in July 2021 and has completed integration with commercial banks for the exchange of cross-border trade-related financial information.
It recently launched the Trade Information Portal of Pakistan to provide a single access point for all import, export, and transit-related information and has also begun offering services for online application and processing of import permits, and Phytosanitary certificates on imports and exports of agricultural goods and commodities regulated by the Department of Plant Protection.
Copyright Business Recorder, 2022