ISLAMABAD: With differences over revised draft of transit trade agreement between Pakistan and Afghanistan remaining unaddressed even after the passage of months, the two countries have signed a protocol for extending the Afghanistan-Pakistan Transit Trade Agreement (APTTA), 2010 by another six months.
Advisor to the Prime Minister on Commerce and Investment, Abdul Razak Dawood, and Minister of Industry and Commerce, Nisar Ahmad Ghoriyani, signed the extension. The ceremony was held over video-link on Thursday.
According to details, the two neighbouring countries are not on the same page over the revised draft of the transit trade agreement, leading to delay in signing of the pact. However, officials at the Ministry of Commerce claimed that the agreement would be signed by next month.
Earlier, the two countries had extended the agreement by three months following its expiry on February 11. In this regard, the Ministry of Commerce had taken up the matter in a Cabinet meeting in May.
Speaking on occasion, Dawood said that his vision for trade and economic relations with Afghanistan and Central Asian Republics (CARs) makes Pakistan a hub for trade, transit and transshipment. “Our trade must be based on secure, open, consistent, reliable and legal movement of goods at the Afghan border along with enhanced connectivity with Afghanistan and CARs,” he said.
“This is a long-term vision and through our current engagement with Afghanistan and Uzbekistan, we are laying the foundation for its implementation. This will ensure that Pakistan leverages its geo-economic location in the region to enhance its international trade,” he said.
Both sides expressed satisfaction with an extension of the agreement and decided that the technical teams of the two countries will conclude the revised agreement soon.
According to sources, the agreement on a revised draft was being delayed due to differences and disagreements for which more interactions at the policy level would be needed.
Once finalised and signed, the agreement will come into force one month after the exchange of instruments of ratification, which will also take time.
It has been estimated that 30 per cent of ATT goods passed through Pakistan and the remaining via Iran, Uzbekistan and Tajikistan. Under the agreement, Pakistan’s exports to Central Asia go through Afghanistan.
