Pakistan And Saudi Arabia Sign Customs Pact To Enhance Trade

Pakistani businessmen said the development was a "step in the right direction."

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The Saudi Ambassador in Pakistan, Nawaf bin Saeed Al-Malki, left, meets the Federal Board of Revenue chairperson, Muhammad Javed Ghani, at the FBR headquarters in Islamabad. (FBR)

The Islamic Republic of Pakistan and the Kingdom of Saudi Arabia (KSA) agreed on Saturday to bolster cooperation in the fields of customs and taxation to boost bilateral trade.

The development follows a 2019 visit by Saudi Customs Authority officials to the Federal Board of Revenue (FBR).

The Saudi officials had discussed exchanging real-time information on the value of goods originating from the kingdom and Pakistan and joint law enforcement measures to control illicit flows of currency and prevent drug trafficking.

On Saturday, the Saudi Ambassador in Pakistan, Nawaf bin Saeed Al-Malki, met with the FBR chairperson, Muhammad Javed Ghani, in Islamabad.

“It was agreed in the meeting that pertinent departments of both states would further boost the cooperation in the field of customs and tax.”

“The countries would also learn from each other’s best practices which would result in increasing the trade volume between the two nations,” the FBR said in a statement after the meeting.

The agreement will be implemented after approval from Saudi Arabia. “We are working very rapidly on the text. We have already sought comments from the relevant department,” the envoy said during the meeting.

Ambassador Al-Malikey said this agreement would further strengthen the relationship between the two countries. “We are keen to finalize it early,” he said.

Reaction.

Pakistani business persons said the development was a “step in the right direction.”

“The trade between the two fraternal nations could only be increased by easing out tax and customs procedures of both the countries,” expressed Sardar Shahid Ahmed Laghari.

Sardar is the Chairperson of the Pakistan‐Saudi Arabia Business Council of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).

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