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Apr 23 - 29, 2001

Morocco for joint business council

Prime Minister of Morocco, Abderrahman Youssoufi has stressed the need for setting up a joint Pakistan-Morocco business council as an instrument to work regularly in a complementary framework in translating the objectives of businessmen into real projects.

Addressing the members of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) at the Federation House on Wednesday, he said it was the right time to set up the council in view of the vital role of the private sector in activating the productive mechanism and encouraging trade exchanges between the two countries.

Our two countries, he said, possessed great human and material potentials and our companies and institutions enjoyed expertise and technical know-how which had enabled them to rival the international companies in several specialities.

The Moroccan prime minister invited the businessmen of the two countries to explore the existing opportunities in several sectors so as to raise the volume of bilateral trade and consolidate economic relations, which had remained below the level of our political relations, our aspirations and common objectives.

He also invited the Pakistani companies to explore the Moroccan market by participating in the international bidding and the exhibitions organized in the kingdom to promote their products or through the establishment of a co-operation partnership with their Moroccan counterparts.

Abderrahman said that both the countries shared a common destiny in facing the challenges and constraints of the globalisation process.

He said that emergence of the so-called "new economy" based on information technologies gave, in this equation, prior advance to the rich north over the poor south whose most countries still suffered from their prevailing indebtedness and their chronic economic and social hardships.

APTMA sets up eForum on WTO

The All Pakistan Textile Mills Association (APTMA) committee on the anti-dumping duties and the World Trade Organization (WTO) affairs has announced the setting up of an eForum for discussing , networking and disseminating information regarding WTO related issues and other matters pertaining to international trade and export promotion.

The eForum has been set up because of the need of greater information on such matters and issues felt by the businessmen and trade bodies because of the increasing significance of WTO rules in the world trade.

The eForum, known as "APTMA-WTO" group, will offer an opportunity for networking and interaction between businessmen, government officials, lawyers, accountants, economists and journalists interested in WTO related information.

MoU signed to boost trade

The Federation of Chambers of Commerce, Industries and Services (FCCIS) of Morocco and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday signed a memorandum of understanding (MoU) to further improve trade relations between the two countries.

President FPCCI, Iftikhar Ali Malik, and President FCCIS, Abdallah Zouhir, signed the agreement on behalf of their respective federations.

Under the agreement, both the FPCCI and the FCCIS would endeavour to undertake studies to determine the support which might benefit their members under this understanding.

The two sides agreed to exchange professional experience relating to services rendered to their respective members, facilitating their relationships and providing adequate support for the successful outcome of specific programmes.

Fabrics export up by 40%

The 2nd meeting of the Federal Textile Board was informed on Tuesday that there had been 40 per cent increase in the export of fabrics and towels during the first three quarters of the current financial year.

The meeting, presided over by Minister for Commerce, Industries and Production Razak Dawood, reviewed the performance of the textile sector and was told that export of fabrics and towels has shown an impressive increase of 35% to 40% whereas export of some items were not up to the target.

Pakistan seeks lifting of textile export quota

A four-member official team is expected to leave soon for Brussels, to attend a scheduled meeting on April 26-27, with the European Union (EU) officials to discuss possibilities of lifting quotas on Pakistani textile exports, official sources disclosed on Tuesday.

The team comprising officials from Ministry of Commerce (MoC), Central Board of Revenue (CBR), and Export Promotion Bureau (EPB) will try to convince the EU officials about the affordable reduction in tariffs, the country may like to make for getting quota free zone for its textile export to EU states.

The EU lifted quota restriction on Sri Lanka last December, after the latter met the tariff reduction condition. Similarly, the EU has asked Pakistan to reduce tariffs to a minimum level of 5 per cent and a maximum at 10 per cent.

Rice exporters divided

The recently concluded agreement between the rival groups of rice exporters on the role of quality review committee (QRC) and pre-shipment inspection companies is faced with a dissolution, a rice exporter said.

The rival groups of rice exporters during their meetings held on March 28 and 31, unanimously adopted recommendations framed by the task force specially set up by the Rice Exporters Association of Pakistan (REAP) to look into such disputes.

Gem, jewellery and minerals

The success of the first Pakistan Gems, Jewellery and Minerals Exhibition in Dubai and the visit of the accompanying delegation was marred by inadequate publicity before and during the event. The exhibitors, who left for Pakistan on Friday, complained that their trade counterparts in the UAE, specially in Dubai and Sharjah, were not brought to the exhibition nor was the delegation given their list to contact them on its own.