PESHAWAR
\nA Memorandum of Understanding (MoU) was signed between Sarhad Chamber of Commerce and Industry (SCCI) and Pak-Afghan Joint Chamber of Commerce and Industry (PAJCCI) to strengthen collaboration among both the trade entities and joint work to enhance bilateral trade between Pakistan and Afghanistan.
\nSCCI president Fazal Moqeem Khan and President of PAJCCI, Junaid Ismail Makda signed the agreement during a joint meeting held at the chamber house, said in a press release here on Thursday.
\nAccording to detail, PAJCCI president Junaid Ismail Makda along with vice president M. Pervez Lala and his team members\u2019 visited the chamber. On the occasion, the chamber president Fazal Moqeem Khan chaired the meeting.
\nDuring the meeting, SCCI Senior Vice President, Abdul Jalil Jan, Vice president Shehryar Khan, SVP PAJCCI, Zia-ul-Haq Sarhadi, former president Faiz Muhammad Faizi, former senior vice president Shahid Hussain, former vice president Shuja Muhammad, members of the chamber executive committee Aftab Iqbal, Ishaq Ahmad, Mujeebur Rehman and Rashid Iqbal Siddique, Ihsanullah, Khalid Sultan Khawaja, Khalid Shahzad, Mazhar Ul Haq, Secretary General Muqtasid Ahsan, traders attached with Pak-Afghan trade, exporters and importers were present.
\nAccording to MoU, it was agreed that to build a dependable, pragmatic and advantageous relationship between Pakistan and Afghanistan, both the chambers would initiate establishment of friendly cordial relations through an increased cooperation among the industrialists, businessmen and entrepreneurs of the region.
\nSCCI and PAJCCI will also work to foster a spirit of better cooperation and coordination between business communities of both the countries in general and their respective members in particular for the development of trade and commerce, the MoU said.
\nAs per agreement, both trade bodies will play their facilitating role for encouraging bilateral trade activities, exchange of trade delegations, participation in trade fairs and exhibitions.
\nThe agreement said Joint efforts would also be made for establishing effective consultation, cooperation and exchange of information on bilateral trade and relationship.
\nBoth the chambers would also appoint permanent staff to serve as a focal point for execution of this MoU, reads the agreement.
\nEarlier, President SCCI, Fazal Moqeem Khan in his welcome address apprised President PAJCCI about impacts of two percent Infrastructure Development Cess (IDC) levied by Khyber Pakhtunkhwa government on import, export and transit trade.
\nThe decision of two percent cess and other impediments have reduced Pak-Afghan trade volume to less than one billion dollar, Moqeem claimed.
\nThe trade volume between Pakistan and Afghanistan has the potential of more than three billion US dollars, but unfortunately it is reduced to less than one billion dollars, he continued.
\nAfter levy of two percent cess, number of daily clearance of goods laden trucks at Torkham border have been drastically dropped from four to five hundreds on daily basis to mere five to ten, badly impacting commercial activities in the region, President SCCI added.
\nHe said Balochistan government also imposed the same cess, but forthwith withdrew the decision within a couple of days after realizing its impact on trade.
\nHowever, in KP, he continued, apart from imposition of cess on import and export, the levy has also been implemented on reverse cargo under Transit Trade Agreement.<\/p>\n","protected":false},"excerpt":{"rendered":"
PESHAWAR A Memorandum of Understanding (MoU) was signed between Sarhad Chamber of Commerce and Industry (SCCI) and Pak-Afghan Joint Chamber of Commerce and Industry (PAJCCI) to strengthen collaboration among both the trade entities and joint work to enhance bilateral trade between Pakistan and Afghanistan. SCCI president Fazal Moqeem Khan and President of PAJCCI, Junaid Ismail […]<\/p>\n","protected":false},"author":2,"featured_media":449099,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-449082","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n