The recent announcement of the Developing Countries Trading Scheme (DCTS) by the UK has opened up new avenues for trade between the UK and Pakistan. This scheme, aimed at reducing tariffs and simplifying trade terms, presents a remarkable opportunity for Pakistan to unleash its export potential in various sectors. One cannot overlook the significance of simplified trade, as it allows nations like Pakistan to fully capitalise on their strengths. Currently, bilateral trade between the UK and Pakistan stands at an annual volume of 5.63 billion dollars. Stricter implementation measures must be enforced to prevent custom officers from withholding shipments for personal gains, ensuring a fair and efficient trade environment.

Source: The Nation June 21, 2023 21:38 UTC