The delegation, comprising ministers, officials
press, men and women, pointed to the many obstacles preventing business
in Pakistan and in all of South Asia from exploiting commercial
opportunities to lift themselves out of poverty.
The EU agreed on the importance of developing
countries' full integration in the world economy. Indeed, the EU has
always believed that increased trade is essential to fight poverty for
the benefit of current and future generations.
We do not believe this means developing countries
have to choose between trade and aid. Both are important. This is maybe
one of the most important lessons we draw from Johannesburg, and indeed
it is a strong message coming from all three recent major international
conferences: In Doha, the WTO launched a new trade round centred on
development: the Doha Development Agenda. In Monterey, the UN Conference
on Financing for Development stressed the importance of securing
effective and predictable financing for trade related development
programmes. And in Johannesburg, the UN World Summit on Sustainable
Development spelled out the need for mutually supportive trade,
development and environment policies.
The EU is getting organised to offer trade and aid in
a more coherent manner. On the trade policy side, this means continuing
to pursue development objectives — both unilaterally (as in the
Everything But Arms initiative to eliminate tariffs and quotas for least
developed country exports) and multilaterally in the Doha Development
Agenda, where we are committed to negotiating a development friendly
outcome with respect to market access and multilateral trade rules.
POULTRY EXPORT DISCUSSED
Federal Minister for Commerce and Industries Abdul
Razak Dawood on Tuesday expressed the hope that Pakistan has potential
to capture 15pc of poultry market valued at $6.75 million.
He was talking to a delegation of Pakistan Poultry
Mr Dawood said that the total export of poultry/egg
albumin stood at $2.71 million during July 2001 to June 2002 as compared
to $1.86 million during the same period of 2000-2001 showing a growth of
46pc. The total world market of hatching eggs amounts to nearly $950
Mr Razak said that the major markets for poultry
sector are Kuwait, Saudi Arabia, UAE, Oman, Bangladesh, Egypt, Qatar,
Libya, Singapore, Japan and Czech Republic. Other export countries
especially of hatching eggs include Netherlands, France and India.
PAKISTAN RICE BOARD ON CARDS
Commerce Minister Abdul Razak Dawood said on Monday
that constitution of fully powerful Pakistan Rice Board (PRB) was in the
offing to give substantial boost to export of rice, enhance its
productivity and ensure quality in management.
He was presiding over a meeting of the members of
Rice Exporters Association of Pakistan (REAP).
Mr Razak termed this rice board to be fully powerful
and autonomous in matters pertaining to rice exports, quality
management, rice growth and high quality of milling. PRB will be headed
by a chairman from the private sector and will bear all the stakeholders
like farmers, growers, millers and exporters on it as members.
CGO UPSETS TEXTILE INDUSTRY BMR
The contradictory notifications issued by the Central
Board of Revenue (CBR) are creating hurdles in the way of imports of
capital goods such as plant and machinery. This is having an adverse
impact at the time when investment in the country is picking up
particularly in the textile industry.
The CBR has exempted plant and machinery, being
imported for balancing, modernization and replacement (BMR), from
customs duty and sales tax. This exemption given under SRO 554(I)/98 is
inducing and accelerating investment needed for the industry in the
shape of BMR.
The Central Board of Revenue (CBR) has directed all
customs collectorates for immediate disposal of pending duty drawback
claims to facilitate exporters.
To minimize the pendency of the duty drawback claims,
the board paid out Rs5.4 billion to exporters during the first quarter
(July-September) of the current financial year.
The CBR paid Rs26.4 billion under the head of duty
drawback during 2001-02 against Rs16.4 billion it paid in 2000-01,
showing an increase of 60.97 per cent.
Federation of Pakistan Chambers of Commerce &
Industry on Tuesday signed a cooperation agreement at Washington with US
Chambers of Commerce and Industry for formation of Pakistan-US Joint
Business Council. According to a fax message received from Washington,
FPCCI president Iftikhar Ali Malik while addressing the august gathering
at the signing ceremony said the agreement would open a new chapter in
Pakistan-US trade relations.
BUSINESS BODY FORMED
Pakistan and Tunisia have agreed to establish a joint
business committee to increase trade and economic cooperation between
the two countries.
An agreement of cooperation was signed between
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and its
Tunisian counterpart after the opening of 5th session of Pakistan
Tunisia Joint Ministerial Commission, says a message received from
EXPORT FINANCE RATE UNCHANGED
The exporters would continue to get export finance at
8 per cent markup for the seventh consecutive month in October 2002 as
the State Bank has left the export refinance rate unchanged at 6.5 per
cent. The SBP had last changed the export refinance rate in April.