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Pakistan now accepting ATA Carnets
On Oct. 1, Pakistan joined the ATA Carnet system, according to the U.S. Council for International Business (USCIB).
The USCIB, which administers ATA Carnets in the United States, says Pakistan will waive import duties on professional equipment; goods for exhibitions and fairs; and imports for scientific, educational and cultural purposes.
Pakistan’s entry shows the country’s commitment to promoting economic growth in addition to providing an opportunity for American businesses to expand into the South Asian market, the USCIB
said. In 2006, more than 150,000 Carnets were issued worldwide, covering goods valued at almost $15 billion. Iran and Chile were the most recent countries to join before Pakistan, further opening trade in Asia and Latin America, according to the USCIB. Pakistan-based representatives of the International Chamber of Commerce (ICC), overseeing the system at the global level, called the country’s entry an important step toward market openness.
ATA Carnets will be guaranteed by the Pakistan National Chamber of Commerce and Industry. The country does not plan to accept Carnets for commercial samples, postal traffic, goods for transit or unaccompanied goods.
Carnets are often referred to as “passports for cargo,” allowing shipments to be temporarily admitted into more than 95 foreign partner countries. Goods are imported without individual temporary import bonds or payment of import duties.
ATA Carnets require a single bond to be secured within the country of origin, providing the shipment a more streamlined entry and clearance process through Customs around the world. Carnets do not exempt holders from obtaining necessary licenses or permits.
For more information, please view Avalon’s
Carnet Brochure or the USCIB’s Web site at
www.uscib.org. Avalon is a full service provider of Carnets and they can easily be obtained by writing to
carnets@avalonrisk.com.
For further information, please contact your local Avalon office or Robin Reynolds or Deirdre Hudson at Avalon’s San Francisco office. Robin Reynolds can be reached at (650) 652-4100 or at
rreynolds@avalonrisk.com. Deirdre Hudson can be reached at her direct line (650) 652-4104 or at
dhudson@avalonrisk.com. To view a directory of Avalon’s office locations, please visit our Web site at
www.avalonrisk.com.
Source:
http://www.uscib.org/index.asp?documentID=3747
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