Pak-Afghan Transit Trade Accord Extended for Three Months
Pakistan and Afghanistan have extended the Afghanistan-Pakistan Transit Trade Agreement (APTTA) for an additional three months, despite the fact that it was set to expire last month.
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In this regard, a supplementary protocol to the agreement was signed via video link by the Afghan Minister of Industry and Commerce and Abdul Razak Dawood, Assistant to the Prime Minister on Trade & Investment.
The two neighboring nations’ 2010 pact to increase commerce came to an end in February of this year.
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The decision to prolong the agreement is intended to minimize any interruption in trade and transit issues between the two nations, according to officials with knowledge of the move. The extension would also give the two countries more time to debate the suggested revisions to the pact.
According to data compiled by the Federal Board of Revenue (FBR) Directorate General of Transit Trade, a total of 832,819 containers of Afghan transit trade carrying goods worth $33 billion passed through Pakistan over the course of the last ten years. This represents 30% of the cargo in Afghan transit trade; the remaining cargo passed through Iran, Uzbekistan, and Tajikistan.
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