10 - 16, 2002
MALAYSIA TO IMPORT LIVESTOCK
Malaysia will import $0.3 million livestock from
Pakistan on monthly basis. The order was obtained by a trade
delegation of Pakistani meat exporters during a recent visit to
The visit was arranged by the Export Promotion
Bureau, says an EBP press release issued on Thursday.
The exporters were confident of exporting $25
million meat to the country in the very first year. Malaysia's total
annual meat imports stand at $220 million.
The delegation had meetings with the
representatives of Associated Chinese Chamber of Commerce and
Industry, Malay Chamber of Commerce and Industry, Malay Business and
Industrialists Association (Penang Chapter) and other local
associations. The delegation also met the officials of Department of
veterinary Services, Ministry of Agriculture and food and
representatives of Penang state authority.
EXPORTS STAND AT $8.710BN IN 11 MONTHS
Pakistan's exports during July-May period of the
current financial year stood at $8,710 million. The figure is 0.97 per
cent less than the exports recorded in the corresponding period of
These figures are very encouraging, keeping in view
the regional stability during the current fiscal year, slow growth in
major export markets and impact of September 11 events, says an EPB
press release issued on Wednesday.
It says these figures look even more encouraging
when compared with the IMF estimates for decline in exports of other
Asian economies. Due to slow growth in the US and major European
markets, exports of most of the countries in the Far East experienced
declines ranging from 5pc to 15pc, according to IMF estimates.
The EPB release says Indian exports are expected to
grow at a modest rate of 0.6 per cent but this is much below the
growth rate of more than 19 per cent during the previous year.
OPENING OF LCS SLOWS DOWN
The process of opening letters of credit (LCs) for
agriculture products has slowed down since the commodity markets are
in state of panic over the government's possible move to levy 15 per
cent general sales tax and five per cent import duty on the same.
"There is a wait-and-see position and
importers are now reluctant to open fresh LCs, said chairman Karachi
Wholesale Grocers Group (KWGG), Anis Majeed.
Pakistani trade delegation has secured export
orders worth $1 million from Vietnam and Philippines, while
negotiations for $5 million exports are under process.
VALUE-ADDED EXPORTS ON RISE: RAZAK
The share of the value-added products in the
country's exports has considerably increased during this fiscal year,
says commerce minister Abdul Razak Dawood.
Speaking at a function on Monday, the minister said
the share of value-added textile products in the total textile exports
had increased to 57 per cent this year.
Pakistan expects its exports for the year to touch
the figure $9 billion as against the actual target of $10.1 billion.
The target was slashed in view of the adverse effects of 9/11 on the
PAKISTAN, TAJIKISTAN AGREE TO BOOST TRADE
President Gen Pervez Musharraf and Tajikistan Prime
Minister Akil Aliclov discussed ways and means to improve economic and
trade relations at a meeting in the State Guest Home on Sunday.
The president arrived here ahead of an Asian summit
being held in Kazakhstan's capital Almaty on Tuesday amid expectations
that Pakistan and India would find a way to go back from the brink of
The Musharraf-Aliclov meeting took place just after
the president arrived in the Central Asian state on a two-day official
Briefing newsmen after the meeting, Information
Minister Nisar A. Memon said that the Tajik prime minister had spoken
of the friendly relations between the two countries bound together by
history, culture, religion and geography.
The prime minister told the president that in ten
years of independence, under the leadership of President Emomali
Rahmanov, both the government and opposition had worked together for
the economic development and for the betterment of Tajik people. He
emphasized the need to enhance economic cooperation between the two
countries in hydro-electricity, communications, energy and trade
The prime minister expressed desire for the
establishment of a network of roads linking Tajikistan with Pakistan
through Afghanistan for access to the Indian Ocean.
He thanked Pakistan for extending a $20 million
loan in 1994 and said that out of it $13 million had been spent on the
economic development of his country. He called for re-scheduling the
loan over a long period and for the interest to be reduced because of
the natural calamity which struck Tajikistan. He put greater emphasis
on promotion of bilateralism and economic development.
JULY-APRIL ATT IMPORT UP
The import value of Afghan Transit Trade (ATT)
increased by 2.41 per cent in April and 9.18 per cent in July-April
period of the current financial year over the corresponding period of
the last year.
Official sources told that following the interim
set-up in Afghanistan, the Afghan traders had started importing goods
under the ATT to take part in the reconstruction of the war-torn
They said the import value of ATT had been dropped
to almost nil following the September 11 incident till December last
year. However, in December and followed by April, the Afghan importers
after being given security assurances started taking interest in
importing goods under the ATT.