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Issue of Bank Guarantee from Afghan Traders in Karachi Port Resolved

in Afghan Business

Issue of Bank Guarantee from Afghan Traders in Karachi Port Resolved

The issue of bank guarantee receipt from Afghan importers for their goods landing in the port city of Karachi is now resolved, Afghan deputy Commerce and Industries Minister Muzammil Shinwari announced on Tuesday.

The implementation of a long-awaited transit trade deal signed last year was delayed due to the bank guarantee issue. Islamabad is now willing to allow Afghan trucks to enter Pakistani ports; and instead of bank guarantee, commerce ministries of both countries had agreed to ensure financial guarantees for their respective vehicles.

A final decision on the issue is to be made during a joint meeting on the Afghan-Pakistan Transit Trade Agreement, which is due to take place in the near future.

Afghanistan Ministry of Commerce and Industries have made efforts to help resolve problems faced by the Afghan traders. Their achievement of the creation of the Afghan-Pak Chamber of Commerce and Industries is believed to be fruitful in finding solutions to trade problems.

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