What is Import & Export?
Import and export are processes that involve bringing goods or services into or out of a country. Importing refers to bringing goods or services into a country from a foreign source, while exporting refers to sending goods or services out of a country to a foreign destination.
Who can do Import & Exports?
It can be done by individuals, small businesses, or large corporations, and they can involve a wide range of products and services, such as raw materials, finished goods, agricultural products, and manufactured products. In many cases, import and exports are carried out for the purpose of increasing the competitiveness of a company or country by taking advantage of lower costs or higher demand for particular products in different markets.
Advantages
There are several advantages to imports and exports of goods and services:
- Diversification of markets: It allows businesses to access new markets and diversify their customer base. This can help mitigate risk and increase the overall stability of a company.
- Increased competitiveness: By importing goods that are cheaper or of higher quality than those available domestically, businesses can reduce costs and improve the quality of their products, which can make them more competitive in the market. Exports can also allow businesses to access new customers and increase their sales.
- Access to specialized products: Imports can provide access to specialized products or materials that may not be available domestically. This can be especially beneficial for businesses that rely on these products to produce their own goods or services.
- Economic growth: It can stimulate economic growth by increasing the demand for domestic goods and services, creating jobs, and generating revenue for the government through tariffs and other trade-related taxes.
- Cultural exchange: It can also facilitate cultural exchange by introducing people to new ideas, products, and ways of life. This can foster understanding and collaboration between different countries and cultures.
What is Weboc :
It refers to Web Based One Customs (Weboc) System of Goods Declaration and Clearance. It is computerized automated system developed for customs clearance of import and exports of goods in Pakistan.
Registration for Import & Export/Weboc :
To do the business of import and export in Pakistan, you have to have a valid weboc (Import & Exports) license.
You can register yourself under the following categories.
- Trader
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- Commercial (i.e. Manufacturer, Manufacturer-cum-Exporter, Commercial Importer, Commercial Exporter)
- Non-Commercial
- Ship-Breakers
- Trust / Non-profitable Organization
- Diplomatic Cargo (Embassies)
- Government Department
- Courier Services
- Customs Agent
- Customs Agent
- Bank Users
- Bonded Carriers
- Shipping Lines
- Warehouse
What is PSW (Pakistan Single window):
The Pakistan Single Window initiative started by Pakistan Customs. Its aim is to reducing the time and cost of doing business by digitalizing Pakistan’s cross border trade and digitalizing the manual processes. Its purpose is to provide an integrated electronic platform that allows parties in international trade with a single-entry point to all import, export, and transit regulatory requirements. The government is continuously, gradually shifting and upgrading all the users of Weboc to PSW platform to enjoy its fast track services involved in imports & exports stages.