Trade and economic cooperation between Pakistan and Afghanistan is imperative for regional peace therefore both the countries are required to step forward with some solid proposals for early finalization of preferential trade agreement (PTA) which may play role of an engine to cement ties between both the countries.
Being a landlocked countries, Afghanistan is totally dependent on Pakistan and Iran for its imports and exports. In this connection, Afghanistan has been given a special status regarding duties and customs on the goods being transacted to Afghanistan but much of goods imported under Afghan transit trade agreement have been smuggled back to Pakistan which inflicted loss of billions of rupees to Pakistani national exchequer in terms of shortfall in revenue collection.
In this background, early finalization of PTA is the need of the hour to control over the smuggling as well as enhance trade and economic cooperation between both the countries as the promotion of bilateral trade between the neighbouring countries is top agenda of the both the governments. In this regard, both the countries will share the list of tariffs with each other, afterwards, the technical committees of either sides will have a meeting.
Besides Torkham and Ghulam Muhammad points, the decision to open new border crossing points was also mutually made during the meeting. Despite decades-old relations between their countries, the trade ties are still lagging behind its possible limit, and this area requires improvement.