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Pakistan to join ATA Carnet system
POSTED: 8:49 a.m. EDT, October 4,2007
Pakistan has joined the ATA Carnet system as of Oct. 1, the U.S. Council for International Business said Tuesday.
ATA Carnets permit the duty-free and tax-free imports of goods (the acronym ATA is a combination of the French and English abbreviations for temporary admission.
USCIB, which administers the Carnet system in the United States, said in a statement that Pakistan's entry into the system is a strong signal that the country is committed to promoting economic growth and openness, and it represents an opportunity for American business to further tap the South Asian market.
Pakistan will waive import duties on professional equipment, goods for exhibitions and fairs, and imports for scientific, educational and cultural purposes.
Pakistan has taken an important step to opening its doors to global business, said Cynthia Duncan, USCIB's vice president for Carnet operations. This measure will enhance the transparency of Pakistan customs and enable greater control of the movement of goods. Often called Merchandise passports, ATA Carnets are internationally recognized customs documents for temporary duty-free, tax-free import of commercial samples, professional equipment and goods displayed at trade shows. Companies around the world use them to reduce costs and speed global operations.
ATA Carnets will be guaranteed by the Pakistan National Chamber of Commerce and Industry, but the country does not plan to accept Carnets for commercial samples, postal traffic, goods for transit or unaccompanied goods. | |
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