Latest news with #crossBorderTrade
Arab News
2 days ago
- Business
- Arab News
Pakistan eases visa rules for Afghan transporters, drivers to improve trade amid deportation drive
ISLAMABAD: Pakistan will issue multiple-entry visas valid for one year to Afghan drivers and transporters to facilitate cross-border trade, its embassy in Kabul announced on Friday, amid an ongoing campaign to deport undocumented Afghan nationals. Afghan drivers play a vital role in bilateral and transit trade between the two countries. Under the Afghanistan-Pakistan Transit Trade Agreement (APTTA), Afghan transporters are allowed to move goods between Pakistani ports and their countries major cities like Kandahar, Jalalabad and Kabul. The Pakistan government's decision to issue visas comes at a time when the government has repatriated 979,486 Afghan nationals since launching a deportation drive in 2023 over security concerns. 'The Government of Pakistan has decided to issue multiple-entry visas of one-year validity to Afghan drivers and transporters,' the Pakistani Embassy in Kabul said in a post on X. 'The visa fee for this category would be $100.' Government of Pakistan has decided to issue multiple-entry visas of one-year validity to Afghan drivers and transporters. The visa fee for this category would be USD 100. Please apply for Work (Transit/Transport) visa at * Applicants are required to… — Pakistan Embassy Afghanistan (@PakinAfg) June 20, 2025 The new visa policy is likely to benefit ongoing trade flows, especially as Pakistan remains a primary corridor for Afghanistan's access to international markets. Afghan trucks are permitted to transport goods under the APTTA framework, including third-country imports destined for Afghanistan. Applicants for the new visa will be required to upload a photograph, a scanned copy of their passport, Afghanistan's national identity document, a valid temporary admission document, an employment letter from a registered transport company or an authority letter from a transport operator and a valid driving license. Pakistan's deportation policy in 2023 followed a spike in militant attacks, particularly in the northwestern Khyber Pakhtunkhwa province that borders Afghanistan. Islamabad has previously linked such attacks and other crimes to Afghan nationals, who make up the largest migrant population in the country, though Kabul has denied any nexus between the two. Despite tensions, both countries have recently taken steps to restore diplomatic ties at the ambassadorial level.
CNA
4 days ago
- Business
- CNA
Malaysia pushing to fast track ASEAN Power Grid for greater cross-border electricity trade
Malaysia is pushing to fast track the ASEAN Power Grid, designed to facilitate greater cross-border electricity trade. This comes amid the growing need to decarbonise and ensure sustainable energy supply. As ASEAN chair, Malaysia is eager to have all the bloc's members endorse a single road map to realise a fully interconnected grid system by 2045. Melissa Goh reports from the Energy Asia conference in Kuala Lumpur.
Zawya
26-05-2025
- Business
- Zawya
China raises cross-border yuan use requirement for major banks, Bloomberg News reports
China's central bank asked its major lenders to raise the share of yuan when facilitating cross-border trade, Bloomberg News reported on Monday, citing people familiar with the matter. The People's Bank of China increased the floor ratio for yuan-denominated trade transactions to 40% from 25% as part of its recent adjustment to the Macro Prudential Assessment, the report said. Reuters could not immediately confirm the report. (Reporting by Kritika Singh in Bengaluru; Editing by Toby Chopra)
Bloomberg
26-05-2025
- Business
- Bloomberg
China Raises Cross-Border Yuan Use Requirement for Major Banks
China's central bank asked its major lenders to raise the share of yuan when facilitating cross-border trade, in its latest push for the use of the currency as the world grapples with the onslaught of tariffs by the US. The People's Bank of China increased the floor ratio for yuan-denominated trade transactions to 40% from 25% as part of its recent adjustment to the so-called Macro Prudential Assessment, according to people familiar with the matter, who asked not to be identified discussing a private matter. While not mandatory, banks missing the ratio often receive a lower score in regulatory review which will impact their future business expansion.
South China Morning Post
19-05-2025
- Business
- South China Morning Post
Hong Kong offers vital linkages in aiding Qatar-China investment growth, bank says
Hong Kong can become a link for cross-border capital flows between Qatar and China, creating opportunities for investors in renewable energy and technology, digital currency and sustainable finance, according to a top executive at Standard Chartered. 'Mainland China has a market, Hong Kong has a big toolbox, and if you have a vision and want to invest, the three of us together should be a good match,' Mary Huen Wai-yi, the bank's CEO of Hong Kong, Greater China and North Asia, said in a briefing on Thursday, after returning from a government-led business promotion trip. As Qatar wants to diversify its economy by reducing its dependence on oil and gas, Huen said cross-border trades with China in new energy, financial services and technology were expected to increase. Investors could benefit from Hong Kong's deep capital market and connectivity with mainland China, she added. Hong Kong Chief Executive John Lee Ka-chiu led a business delegation to Qatar and Kuwait last week to deepen trade links with the Middle East amid a US-China tariff war. Huen was among 50 top executives and entrepreneurs from Hong Kong and mainland China on the trip. Middle East businesses were interested in China's power in artificial intelligence and other technology capabilities, Standard Chartered's Huen says. Photo: Jonathan Wong Qatar's GDP per capita of US$121,610 is among the largest in the economies in the region, thanks to its huge oil and gas reserves, according to the International Monetary Fund. Its wealth fund Qatar Investment Authority is the eighth largest globally with US$510 billion of assets, according to data compiled by Global SWF. China's capabilities in artificial intelligence and other technologies drew interest from Middle East investors, Huen said, citing discussions held during the trip. These include flying cars as Chinese carmakers jostle to build early advantage in the low-altitude mobility economy.
