AUPTT Part Of 'Silk Route Reconnect Policy': Commerce Ministry
Faizan Hashmi 18 days ago Fri 16th July 2021 | 10:48 PM
The Agreement between Uzbekistan and Pakistan on Transit Trade (AUPTT) signed in Tashkent, Uzbekistan, on Thursday is a part of the 'Silk Route Reconnect Policy' of the Ministry of Commerce to enhance economic and trade integration with the Central Asian Republics (CARs).
ISLAMABAD, (UrduPoint / Pakistan Point News - 16th Jul, 2021 ) :The Agreement between Uzbekistan and Pakistan on Transit Trade (AUPTT) signed in Tashkent, Uzbekistan, on Thursday is a part of the 'Silk Route Reconnect Policy' of the Ministry of Commerce to enhance economic and trade integration with the Central Asian Republics (CARs).
The AUPTT will put in place the legal framework to enhance connectivity between the two countries and as whole with CARs.
It has a transit trade agreement with Afghanistan while Pakistan also has a Transit Trade Agreement with Afghanistan. Therefore, the Transit Trade Agreement with Uzbekistan can provide opportunities for Pakistani exports to reach the potential $ 90 billion market in Central Asia.
As part of the vision of the present government, to make Pakistan a trade, transit and trans-shipment hub, and enhance regional connectivity with Central Asia, Pakistan provides the shortest route for trade.
Uzbekistan and Pakistan are obligated to ensure that suitable infrastructure and personnel are available at border crossings and will provide separate spaces for off-dock terminals and warehousing, at entry/exit points and other customs notified places, on reciprocal basis.
While each country remains responsible for licensing transport operators (e.g., trucking firms) registered in their territory, Uzbekistan and Pakistan would issue Road Transport Permits on the basis of which, transport operators will be able to transport goods through the other country's territory.
With the exception of selected perishable items, goods transiting through Uzbekistan and Pakistan shall be stored in sealed containers meeting international specifications. The Uzbekistan-Pakistan Transit Trade Coordination Committee (UPTTCC), which will be established under the AUPTT, would be responsible for monitoring and facilitating the implementation of the agreement.
Grievances Redressal, Dispute Settlement and Arbitration mechanisms are available in the Agreement.
Protocol-2 relates to Temporary Admission of Vehicles for Commercial Use.
Protocol-3 is about Customs Control and Transit Regime while Protocol-4 deals with Control of Precursors and Chemical Substances used in the illicit manufacture of Narcotic Drugs or Psychotropic Substances.