Pakistan’s Economic Committee removes bank guarantee for imports of diammonium phosphate from Afghanistan.
According to a reporter from the Afghanistan website of Fars News Agency, Pakistan announced that it has removed bank guarantee for goods imported from Afghanistan.
According to the Business Recorder, the Economic Committee of the Pakistani Cabinet has approved that bank guarantees for imports of diammonium phosphate (DAP) under the Asia Preferential Trade Agreement (APTTA) will be replaced with insurance guarantees.
The plan will be implemented to facilitate the import of Afghan goods, especially those that are to be traded through Gwadar Port.
Based on the trade agreement between the two countries, the Pakistani Ministry of Commerce has allowed the import of bulk Afghan cargoes – wheat, sugar and chemical fertilizers – through Gwadar Port by transiting to Afghanistan using customs-covered, insured and sealed trucks equipped with tracking devices.
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