ISLAMABAD: The Asian Development Bank (ADB) is supporting the development of the Pakistan Single Window (PSW), which automates and integrates government processes under a single digital platform to ease international trade.
According to a statement issued on Thursday, international trade will be faster, easier, and cheaper with the development of the Pakistan Single Window. The Pakistan Single Window will strengthen Pakistan’s integration and cooperation with its neighbours and allow the country to fulfil its commitment under the World Trade Organization’s Trade Facilitation Agreement, said the statement.
The Pakistan Single Window System (PSW) is a transformational trade facilitation initiative that will help reduce time, cost, and complications of moving goods across Pakistan’s borders while ensuring better compliance with cross-border trade regulations. Set under the World Trade Organization’s Trade Facilitation Agreement, PSW will significantly enhance Pakistan’s trade competitiveness, said the statement.
Under its Trade and Competitiveness Programme, the ADB is facilitating institutional and legal changes relevant for PSW. The ADB also provided technical assistance to design and implement a risk management system that is important for reducing cargo clearance time.