PSW to Boost International Trade in Pakistan: ADB
Islamabad: The Asian Construction Bank (ADB) is funding the development of the Pakistan Single Window (PSW), which integrates and automates government operations on a single digital platform to facilitate international trade.
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According to a statement released on Thursday, the development of the Pakistan Single Window will expedite, simplify, and reduce the cost of international trade. The Pakistan Single Window will promote Pakistan’s integration and collaboration with its neighbours, enabling the country to meet its obligations under the World Trade Organization’s Trade Facilitation Agreement, according to the statement.
The Pakistan Single Window System (PSW) is a transformative trade facilitation programme that will minimise the time, cost, and complexities associated with transporting goods across Pakistan’s borders while guaranteeing greater compliance with cross-border trade regulations. In accordance with the Trade Facilitation Agreement of the World Trade Organization, PSW will greatly increase Pakistan’s trade competitiveness, according to the statement.
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Under its Trade and Competitiveness Programme, the ADB is assisting PSW-relevant institutional and legislative reforms. In addition, the ADB offered technical help for the design and implementation of a risk management system, which is crucial for lowering cargo clearance time.
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