The federal cabinet has given approval for an agreement between Pakistan and Saudi Arabia for customs cooperation to check tax evasion, commercial fraud, prohibited goods and money laundering, reported 24NewsHD TV channel on Monday.
Cabinet Division took approval of the federal cabinet through a circulation summary.
Sources said that the agreement will help promote bilateral trade, mutual cooperation and affairs relating to customs between both countries.
The agreement with KSA will be helpful for Pakistan in many ways.
The deal will also be useful to check tax evasion and duties. The inter-ministerial consultative process was completed before finalization of the deal, the sources added.
Ministries of foreign affairs, defence, interior and commerce were also consulted.
The content of the agreement was also vetted by the Ministry of Law and Justice, the sources concluded.
Reporter Waqas Azeem