Revitalizing Pakistan’s export engine, economic activity
Aadil Nakhoda discusses the recent trade statistics published by the Pakistan Bureau of Statistics for November 2023, suggesting that exports in the first five months of FY24 are hovering at levels similar to those reported for the first five months in the previous fiscal year. He recommends restructuring trading agreements, supporting small and medium enterprises, adopting global standards, and enabling digital access to market information.
Licenses, Product Registration: PSW teams up with DRAP for gradual roll-out of services
Pakistan Single Window, in collaboration with the Drug Regulatory Authority of Pakistan has successfully integrated all existing entities, licenses, and product registration of drugs with the PSW platform. It will enhance transparency, efficiency, and ease of doing business for pharmaceutical companies, commercial importers, healthcare institutions, and humanitarian organizations involved in imports of finished drugs. This partnership was formalized through an MoU signed on 11th November 2022 in Islamabad.
SMEDA to organize training on “Import/Export Documentation Procedures and PSW”
SMEDA will organise a one-day workshop on “Import Export Documentation Procedures and Pakistan Single Window” for profitable business growth on 11 December. The workshop will be held at the Jhelum Chamber of Commerce Industry and will provide information about international trade, trade payment terms and PSW.
PSW Integrates with Global E-Phyto Hub for Faster Agricultural Trade
PSW, in collaboration with the Department of Plant Protection (DPP), has initiated the electronic exchange of phytosanitary certificates through the IPPC e-Phyto Hub. This integration is a critical element of PSW's commitment to modernizing trade processes and adopting digital solutions for a more efficient global trade environment. This move signifies a significant leap toward eliminating paper-based procedures, reducing processing times, and enhancing trade competitiveness.
PSW integrates with global E-Phyto Hub for faster agricultural trade
In collaboration with the Department of Plant Protection (DPP), PSW has initiated the electronic exchange of phytosanitary certificates through the IPPC e-Phyto Hub. This integration is a critical element of PSW's commitment to modernizing trade processes and adopting digital solutions for a more efficient global trade environment. This move signifies a significant leap toward eliminating paper-based procedures, reducing processing times, and enhancing trade competitiveness.
PSW integrates with the International Plant Protection Convention Secretariat’s (IPPC) E-Phyto Hub
PSW proudly announces its successful integration with IPPC's E-Phyto Hub, a leap forward in global digital trade for electronic phytosanitary certificates. This milestone fosters seamless international agricultural trade by enabling swift, secure, and cost-effective exchanges. Pakistan joins 88 countries in this transformative digital platform, reducing export costs and minimizing shipment delays at foreign ports.
Transforming the Private Sector
Aadil Nakhoda highlights Pakistan's challenges in boosting sustainable exports and transforming its private sector into a dynamic growth driver and emphasizes the importance of digitizing trade processes through initiatives like the Pakistan Single Window to enhance accessibility for smaller firms. Addressing issues like low participation in global value chains and encouraging SME competitiveness are crucial pathways toward economic growth and global competitiveness.
Trade facilitation: country achieves major milestone
Pakistan has achieved a significant milestone in trade facilitation by linking to the IPPC's e-Phyto Hub, enabling the electronic exchange of phytosanitary certificates with 127 countries via PSW. The NPPO and PSW integration aims to digitize trade functions and enhance global trade efficiency. CEO PSW also highlighted the elimination of paper certificates, enhancing national trade digitization, and benefitting entry points and traders nationwide.
Pakistan Automotive Sector Seeks Immediate Policy Reforms
Dr. Aadil Nakhoda suggests that boosting exports will involve promoting SME involvement, which includes addressing bureaucratic obstacles, digitalizing trade procedures through further integration of PSW, reducing import tariffs to eliminate anti-export bias, and ensuring that currency movements align with expectations. and reduce risks.
Experts seek auto sector revamp
Dr. Aadil Nakhoda, Assistant Professor & Research Fellow (CBER) at IBA, Karachi, suggests that boosting exports will involve promoting SME involvement, which includes addressing bureaucratic obstacles, digitalizing trade procedures through further integration of PSW, reducing import tariffs to eliminate anti-export bias, and ensuring that currency movements align with expectations. Dr. Nakhoda adds that these measures will reduce the risk of engaging in cross-border trade.