SAINT PETERSBURG: A Memorandum of Understanding (MoU) for collaboration between Pakistan Customs and Russia’s Federal Customs Service on Exchange of Statistical Data on Mutual Trade was signed by Pakistan and the Russian Federation on Thursday.
According to a press release from the Ministry of Commerce, the MoU was signed on behalf of Pakistan Customs by Shafqat Ali Khan, the country’s ambassador to the Russian Federation. The signing ceremony took place here on the sidelines of the Saint Petersburg International Economic Forum.
Shaukat Hayat Cheema, Minister of Trade and Investment at the Pakistani Embassy in Moscow, was also present.
The two parties will work together to implement the memorandum in the areas of information exchange on the methodology used for maintaining foreign trade statistics, any significant changes, as well as the exchange of statistical data on mutual trade, with the exception of any information that is not subject to disclosure or that is a state or commercial secret.
Both parties will get the essential data on their respective trades as a result of the exchange of information on the procedures used to maintain foreign trade statistics and the statistical data outlined in the memorandum.
According to the MoU, the parties shall exchange statistical data every quarter, and they will give each other the data for that quarter no later than 70 days following the conclusion of the pertinent period.
The parties will exchange separate annual statistics no later than 120 days following the conclusion of the reporting year. APP
