Pak B2B Trade - News updates : Page 2

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Italy shows interest in marble industry

An Italian delegation, recently visited Karachi Chamber of Commerce and industry (KCCI) and showed interest in the development of trade relations.
Also present on the occasion was Ambassador of Italy to Pakistan, Vincenzo Prati, who informed the members of KCCI that Verona Exhibition Authority from Italy intends to hold a marble exhibition in Karachi in 2009. The Italian ambassador also said that in order to enhance trade and investment with the Pakistan, it is essential to intensify cooperation and collaboration, particularly in the field of stones and marble and its products.
The Italian delegation requested the President of KCCI, Shamim Ahmad Shamsi, to send a Pakistani delegation from the marble sector, to interact with Italian investors and business community.
Shamsi briefed Prati about the composition and the role of the Karachi Chambers towards the promotion of business and trade activities, locally and globally. He also stated that there are good prospects for undertaking joint ventures in Pakistan with the help of Italian technical know-how.

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Increase in export finance funds

To ensure the availability of adequate finance for exporters under the Export Finance Scheme (EFS) and to help them in achieving their export targets, the State Bank of Pakistan (SBP) has allowed limits of Rs. 125 billion to the banks for current year.
This is 25% higher than the amount outstanding as on June 30, 2008.
Governor SBP, Dr. Shamshad Akhtar has increased the quantum of export finance for banks under EFS. Funds amounting to Rs. 358 billion will now be available for export of eligible products during FY09.
Loans under the scheme are allowed for 180 days and about Rs. 250 billion will be provided during the year as refinance from the State Bank at the rate of 7.5%. In addition to this, banks will also provide financing facilities to the exporters under the scheme from their own sources to the extent of 30% or Rs. 108 billion, at the same rate of 7.5%.
Furthermore, in order to ensure timely availability of export finance, SBP has advised the banks not to turn down any financing requests made under the EFS.

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Research project to increase mango exports

To increase the shelf life of Pakistan mangoes and as a result to increase the enter new markets, The agribusiness support fund (ASF), the growers of Rahim Yar Khan and Metro have planned to undertake a research project.
Under the project, specially treated / processed mangoes will be exported to Germany by sea, using controlled atmosphere containers as well as reefer containers. The process is expected to increase the shelf of the fruit upto 25-30 days.
The project will train farmers in various activities such as picking, sorting, de-sapling, lime washing etc. at the farm. They will also learn how to transport treated mangoes through reefer trucks immediately to processing facility house, sort and grade fruits again and undertake hot water treatment plus waxing and other treatments at the processing facility.
Mangoes will be packed in in special packaging especially designed for sea shipments and will be transferred to pre-cooling chambers and from there to controlled atmosphere containers. The containers will then finally be transported to the port of shipment.
The project is expected to significantly reduce the transportation costs of mangoes ( via sea shipment ) to the European market.

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Pakistan signs MoU on trade with Morocco

Pakistan has signed a Memorandum of Understanding (MoU) with Morocco to promote bilateral trade and investment. Advisor to the Prime Minister on Industry and Production, mian Manzoor Ahmad Wattoo and Minister of Industry and Commerce of Morocco, Ahmad Chami signed the MoU at the concluding session of Pak-Morocco Joint Ministerial Commission in Rabat.
Both Governments have agreed to start negotiations for a preferential trade Agreement (PTA) by October 2008, followed by the signing of a Free Trade Agreement (FTA) between the two countries.
These measures are expected to double trade between the two countries, which is presently at a modest level of US$ 20 million per annum. The Moroccan Government is also considering a joint venture with Pakistan for producing DAP fertilizer in the country. It may also reduce high tarrif on import of textile products from Pakistan.
The federation of Morocco Chambers has also agreed to hold the inaugural meeting of Pak-Morocco Joint Business Council in October.

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