JWG on single window cooperation between Pakistan and China welcomed

Karachi: The United Business Group (UBG) in Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has welcomed the formation of a Joint Working Group (JWG) on single window cooperation and integration between Pakistan and China.

The decision was jointly taken by Pakistan Single Window and Customs People’s Republic of China, which will devise the coordination mechanism and facilitate technical discussion between the two sides for proposed integration, said a statement issued here by the UBG.

The data exchange mechanism will also help both sides to detect under and over invoicing and counter trade based money laundering in bilateral trade.

China is Pakistan’s biggest trading partner being the top country of origin for import of industrial and consumer goods and the third biggest export destination after United States and EU hence the integration between the two single windows would expand the scope of economic activities and expeditious clearance of goods.

China is major investor in Pakistan especially in infrastructure and energy sectors and the formation of JWG will augment the confidence of the business community of both the countries which is the need of hour in the back drop of the China-Pakistan Economic Corridor (CPEC).