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Old July 19th, 2017, 04:29 PM   #2401
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Govt making efforts to widen transit trade area to Central Asia

http://dailytimes.com.pk/business/19...o-central-asia

ISLAMABAD: Commerce Minister Khurram Dastgir Khan has said the government is making an effort to increase transit trade area to Central Asian Republics (CARs) and will welcome and appreciate some degree of necessary support from World Customs Organization (WCO) to help in either drafting a new agreement or to form some guidelines so that the goods can move across these borders more efficiently.

He was talking to a delegation of WCO, led by its Secretary General (SG), Kunio Mikuriya which called on him here on Tuesday. He warmly welcomed the delegation.

The purpose of the meeting was to discuss issues of bilateral interest including technical assistance with regards to Counter Terrorism and Supply Chain security, Trade facilitation and Economic Competitiveness, Emerging challenges to Customs, Illicit financial flows and Customs reform and modernization.

Speaking on the occasion, Minister for Commerce, Engr. Khurram Dastgir Khan informed the delegation that Pakistan has become a member of TIR convention and it is still in the implementation stage but there is need to merge it with the Transit Trade Agreement to facilitate the movement of goods. The minister further said that Pakistan is already a signatory of TFA and is working with all its neighbors for regularization of Trade, minimizing Tariffs and removing the Non-Tariff barriers.

The World Customs Organization (WCO), established in 1952, represents 182 Customs administrations around the world (including Pakistan Customs), that collectively process 98% of World Trade. It provides an important forum for dialogue and exchange of experiences between national Customs delegates as well as technical assistance and training services.

Besides administrations in combating fraudulent activities and actively supports their endeavors at modernizing and building capacity with their national customs administrations. Pakistan Customs is already a part of several WCO initiatives including its Program Global Shield (PGS) and Strategic Trade Control Enforcement (STCE) Program under which Pakistani officers have received extensive trainings.

Secretary General Kunio Mikuriya said that WCO will provide its support to Pakistan in regularization of trade and also suggested that Pakistan recuperate its Trade Relations with all its neighbor countries particularly Afghanistan to play a more significant role in the corridor.

The secretary general also said that WCO will provide support to Pakistan in harmonizing Customs data and for fast information sharing to ensure speedy movement of goods across the borders.

Khurram suggested further meetings to discuss the transit trade, tariff duties, harmonizing of customs data and installing a system to evaluate the quantum of smuggling.
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Old July 19th, 2017, 04:30 PM   #2402
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Canadian HC eyes various sectors as potential areas of cooperation

http://dailytimes.com.pk/business/19...of-cooperation

ISLAMABAD: Perry John Calderwood, High Commissioner of Canada on Tuesday said that Pakistan and Canada have good potential to enhance cooperation in information and communication technology (ICT), agriculture, energy, mining and other fields and private sectors of both countries have to play the leading role in exploiting these opportunities.

Addressing the business community at Islamabad Chamber of Commerce and Industry (ICCI), he said, "Canada and Pakistan could complement each other in many areas by sharing expertise and developing partnerships. Canada was quite strong in oil and gas, hydro and solar power and Pakistan could benefit from its expertise to improve its energy generation."

Perry John Calderwood said, "Canada is an advanced economy and Pakistan could achieve better results by developing close cooperation with it. Canada is providing development assistance to Pakistan for women economic empowerment and added that the new development policy of Canada would also benefit Pakistan."

He said, "Pakistan is a potential country for business and investment, but due to security concerns, Canadian investors were avoiding to visit Pakistan. However, the security situation was now improving and was hopeful that it will help Canadian investors to explore Pakistan."

Khalid Iqbal Malik, President, ICCI in his address said, "Pakistan and Canada enjoy old friendly relations as they established diplomatic relations in 1947. However, bilateral trade of just over $1 billion in 2015 did not reflect the real potential of both countries."

He said, "Trade in limited items was the main reason of low trade volume and stressed that both countries should focus on trade diversification to improve bilateral trade figure. Trade balance was in favor of Canada and it should enhance its imports from Pakistan as many Pakistan products could meet the needs of Canadian customers at affordable cost."

He emphasized that, "Canadian businessmen should benefit from Pakistan's IT-enabled services in animation and gaming, retail banking and finance, mobile content, document management and call centers."
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Old July 19th, 2017, 04:38 PM   #2403
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Iranian govt ready to facilitate Pak exporters

http://nation.com.pk/business/19-Jul...-pak-exporters

LAHORE - Iranian government is ready to facilitate Pakistani exporters. We are ready for banking cooperation between the two countries however there is lack of cooperation being noted from Pakistan.

These views were expressed by Hossein Bani Assadi, Consul General of Islamic Republic of Iran, during a farewell party arranged at Federation of Pakistan Chambers of Commerce and Industry (FPCCI). A large number of the businessmen of Pakistan were there to pay their gratitude to Hossein Bani for his successful tenure.

Bani Assadi said peace and security of Pakistan is associated with peace and security of Iran. “Pakistan and Iran are two important countries of the region; they share political and cultural ties. Iran will never like to have disturbance in Pakistan economic and political stability. Interaction is first step for business promotion. The business communities in the two countries would have to increase interaction to share their experiences in the larger interests of the people of two brotherly nations,” he said.

He said that the volume of mutual trade between Pakistan and Iran does not match their respective potentials. He said that Chambers of Commerce in the two countries would have to focus on expansion of trade by holding single country exhibitions and through sending trade delegations to each other’s country.

FPCCI Regional Chairman and Vice President Manzoor ul Haq Malik said Pakistan and Iran are the two biggest Islamic countries in the region, and hence have a lot of responsibilities.

Both countries can work together for a better future not only for the better future of their respective nations, but also for the entire region, he said. He added Pakistan and Iran should work for swift visa policy by upraising White Card Sticker Policy as a member of ECO CCI.
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Old July 20th, 2017, 07:31 PM   #2404
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Danish cos keen to invest in Pakistan: Envoy

http://nation.com.pk/business/20-Jul...pakistan-envoy

LAHORE - Ambassador of Denmark to Pakistan Ole Thonke has said a large number of Danish companies were interested to invest and work on long term projects in Pakistan.

Addressing a meeting at Lahore Press Club, the ambassador said that Denmark will provide support to Pakistan not only in energy generation but also for policy reforms, safety enhancements and load and grid management. He said that significant measures were being taken for the promotion of trade relations between both the countries. He added that economic bonds of both the countries would be further strengthened with the exchange of trade delegations.

Thonke said that he found Pakistan quite opposite to what the country had been portrayed in the media, as the country is a very friendly country and there are huge investment opportunities here. The envoy said Denmark would help Pakistan in technology transfer, energy efficiency and renewable energy sectors. He said more delegations planned to visit Pakistan for cooperation in water technology and agribusiness.

The ambassador said that Pakistani and Danish companies could forge partnerships in the various sectors to benefit from each other’s competence. The government of Pakistan aims to end the energy crisis and loadshedding by 2018 through its five-year energy plan and the government of Denmark is actively supporting Pakistan in achieving that goal.

He said there were cordial relations between Pakistan and Denmark and both the countries were working in the right direction for the promotion of cooperation in different sectors. He said there were vast opportunities for the promotion of trade between both the countries. Cooperation in trade sector between Pakistan and Denmark was of paramount importance, he added. He said a positive message would be conveyed to the business community of both the countries with the promotion of trade cooperation.
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Old July 20th, 2017, 07:32 PM   #2405
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HCCI to organise industrial exhibition on Aug 11

HYDERABAD (APP): The Hyderabad Chamber of Commerce and Industry (HCCI) will organise the industrial exhibition on August 11. HCCI Vice President Ziauddin said that main objective of organising the industrial exhibition was to promote the country's manufacturing including motorbikes as well as light and heavy vehicles. The food court and famous circus of the country would also be the part of the exhibition, he informed. The exhibition will be organised at the industrial zone of Hyderabad keeping in view the severe issue of traffic jam in the downtown areas of the city, he said and added that it would be the fourth industrial carnival which is being organised under the banner of HCCI. The organising committee of the carnival has designed 32 stalls of 18x36, 52 stall of 18x18 and 66 stalls of 10x10 which will be allocated to famous industrial companies to display their manufacturing, he said and informed that the representatives of the companies, traders and industrialists from all over the country are expected to visit the exhibition.
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Old July 20th, 2017, 07:34 PM   #2406
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Industrial output grows 5.69pc in 11 months

ISLAMABAD (APP): The country's large scale manufacturing (LSM) sector grew by 5.69 percent during the first 11 months of current fiscal year as compared to the corresponding period of last year. The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 140.32 points during July-May (2016-17) against 132.77 points during same period of last year, official sources said.

The highest growth of 6.43 percent was witnessed in the indices monitored by Ministry of Industries, followed by 4.29 percent growth in the products monitored by Provincial Bureaus of Statistics (PBOS) and 3.00 growth in the indices of Oil Companies Advisory Committee (OCAC).

On year-to-year basis, the industrial growth increased by 6.3 percent during May 2017 as compared to same month of last year, however, on month-to-month basis, the industrial growth decreased by 6.38 percent in May 2017 when compared to growth of April 2017, according to the data of Pakistan Bureau of Statistics (PBS).
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Old July 21st, 2017, 01:48 AM   #2407
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Old July 21st, 2017, 01:49 AM   #2408
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Pakistan Trade Delegation in Kiev, Ukraine
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Old July 21st, 2017, 02:13 AM   #2409
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Chinese interested in Sindh’s transport sector - The Express Tribune
https://tribune.com.pk/story/1461126...nsport-sector/
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Old July 21st, 2017, 06:53 AM   #2410
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Old July 21st, 2017, 06:34 PM   #2411
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Pakistan-Ukraine joint business council meeting in Kiev, Ukraine today
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Old July 23rd, 2017, 03:34 PM   #2412
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‘Taste in Time’: Pakistani student bags second spot in business competition - The Express Tribune
https://tribune.com.pk/story/1464386...s-competition/
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Old July 23rd, 2017, 03:35 PM   #2413
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https://www.dawn.com/news/1346749/fi...rts-up-by-21pc


Sea Food Exports up by 21%
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Old July 23rd, 2017, 05:20 PM   #2414
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US official shares finance tips with Pakistani entrepreneurs

http://dailytimes.com.pk/business/23...-entrepreneurs

ISLAMABAD: Pakistani entrepreneurs gained new insights about raising and managing funds for their entrepreneurial ventures during a series of presentations this week by American entrepreneur Dr. Andrew Scheuermann.

The American Embassy sponsored Dr. Scheuermann's visit to Islamabad, Lahore, and Karachi through its 2017 Entrepreneurship Speaker Series.

During his visit, Dr. Scheuermann shared his experiences helping American entrepreneurs collectively raise over $2 billion dollars for their enterprises through the StartX community, as well as his experience founding Arch Systems, a sensing automation company. He spoke to audiences at venues such as the Islamabad Women's Chamber of Commerce & Industry, Beaconhouse National University, and The Nest i/o.

"The Pakistani entrepreneurs and students I met this week have infectious energy and innovative business ideas to bring to the market," Dr. Scheuermann said. "I hope they will benefit from our strategic discussions on startup finance and fundraising. This generation has the opportunity to dramatically expand the Pakistani startup ecosystem both here and abroad."

The U.S. Embassy Entrepreneurship Speaker Series has sponsored additional programs to support Pakistani entrepreneurs focused on topics such as marketing, intellectual property rights, and the do's and don'ts of starting a business. Other U.S. Embassy programs assist Pakistani entrepreneurs by increasing their access to financial resources, supporting opportunities for entrepreneurship education, and nurturing an entrepreneurial culture, including the United States Agency for International Development's Pakistan Private Investment Initiative, which will make over $100 million in equity capital available to Pakistan's dynamic and fast-growing small-and medium-sized businesses.
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Old July 23rd, 2017, 07:19 PM   #2415
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Business delegation leaves for Bhutan to represent Pakistan

LAHORE (APP): A delegation of businessmen left for Bhutan on Saturday to represent Pakistan in the upcoming 70th executive committee meeting of SAARC Chamber of Commerce and Industry.

Talking to journalists prior to departure, SAARC chamber VP Iftikhar Ali Malik said that distinctive features of the CEPC would also be highlighted during the deliberations besides briefing to the participants on regional issues confronting the South Asian countries.

He said CPEC would act as a trade bridge between South Asia, Middle East and Europe by building roads, railways and, consequently, the enhance trade potential of the region.

He said the CPEC was a geo-economic project, with economic implications not just for Pakistan and China but also indirectly benefit other countries those are not part of the $46b investment.

The CPEC would benefit new emerging regional cooperation in South Asia, besides transforming the future of the region, he added.
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Old July 24th, 2017, 08:40 PM   #2416
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Pakistan, Senegal agree to boost economic ties

http://nation.com.pk/business/24-Jul...-economic-ties

DAKAR - Federal Minister for Commerce Khurram Dastgir Khan led the Pakistani delegation to participate in the inaugural session of the Joint Commission between Pakistan and Senegal, which was held in Dakar (Senegal), while Alioune Sarr, Minister for Commerce, Informal Sector, Consumption, Promotion of Local Products and SMEs led the Senegalese delegation. A delegation of private businessmen from the areas of textiles, agriculture and pharmaceuticals also held B2B meetings with Senegalese businessmen on the sidelines of the session.

During the discussions, both sides underlined the importance they attach to the development of partnership in all areas of common interest, including trade, pharmaceutical industries, investment, agriculture, textiles, higher education and vocational training, information technology, air transport and tourism. To address the difficulties of trade between the two countries, the Pakistani side has sought Senegal’s support to establish a trade partnership with the Economic Community of West African States (ECOWAS) and the West African Economic and Monetary Union (WAEMU).

Both sides also agreed to sign “the Convention for the Avoidance of Double taxation and the Prevention of Fiscal Evasion” as soon as possible. With regards to technical cooperation, Pakistani side highlighted the low level of participation in capacity building programs offered by Pakistan in various disciplines under the auspices of Pakistan Technical Assistance Program (PTAP). The Senegalese side took note of this fact and expressed the desire to redirect the supply of training in line with Senegal’s priority policies and programs.

Both sides also agreed to cooperate in order to facilitate and promote tourism between the two countries including presenting tourist attractions, facilitation of visa issuance as well as sharing data bank from travel and tourist agencies. Pakistani side offered restoration of historical sites in Senegal by Pakistani manpower. Senegalese side appreciated the offer and both sides agreed to exchange further details in this regard. Both sides also agreed to study ways and means for the establishment of air and sea links. In that respect, Pakistan side has proposed a Draft Air Services Agreement to the Senegalese side which agreed to respond on the proposed draft as soon as possible.

Both sides agreed to explore opportunities for cooperation between the Port of Dakar and Karachi Port (KPT) with a view to creating synergies and increasing the volume of trade between the two counties. Both sides also showed interest in exchange of experiences in maritime education and training and Technical Port Management.

Pakistan and Senegal signed the following agreements: “The Agreement on Cooperation in Combating the Illicit Trafficking of Narcotic Drugs, Psychotropic Substances and Precursor Chemicals” & “The memorandum of understanding between the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Union of Chambers of Commerce, Industry and Agriculture of Senegal.”

Besides JMC, Commerce Minister, Khurram Dastgir Khan had a meeting with President of Senegal Macky Sall and conveyed him special message of the PM of Pakistan & also reported on successful conclusion of 1st Pak-Senegal Joint Ministerial Commission. The commerce minister also announced a gift of 1000 footballs made in Pakistan for the Senegalese football association and also announced to send special gift of premium basmati rice of Pakistan to the important dignitaries of Senegal.
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Old July 26th, 2017, 08:06 PM   #2417
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HEC for increasing Pak-Canada trade to $5 billion

http://nation.com.pk/business/26-Jul...e-to-5-billion

excellent trade relations and both countries have tremendous potential to increase bilateral trade from the existing level.

High Commissioner of Canada Perry Calderwood said this during his visit to Rawalpindi Chamber of Commerce and Industry (RCCI) here Tuesday.

Addressing Chamber members, the High Commissioner informed that the two countries have a broad relationship and have been cooperating with each other in a range of areas for the past many decades. The current trade volume can be increased from $1 billion to $5 billion in next couple of years, he added. Calderwood said China Pakistan Economic Corridor (CPEC) will help Pakistan to improve its regional integration and connectivity. The security situation has improved in Pakistan and this will attract foreign direct investment, he further added. The High Commissioner expressed keenness to make all-out efforts for encouraging Canadian businessmen and investors to come to this part of the world.

The High Commissioner further informed that they were also active in the area of Women Economic Empowerment which was among priorities of development programs for Pakistan. "Women Economic Empowerment is a priority of the Canadian government, both in domestic policy and also in foreign development policy.

"Pakistan and Canada can enhance their trade and investment cooperation in different sectors including agriculture, renewable energy, mining and infrastructure.”

Earlier, Raja Amer Iqbal, President RCCI, in his welcome address, stated that Pakistan and Canada share long-standing economic and political relations by working together in various fields. He underscored that RCCI wants to promote business, mutual understanding and friendly relations between the business communities of Pakistan and Canada.
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Old July 27th, 2017, 06:04 PM   #2418
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LCCI invites Russians to explore market

http://nation.com.pk/business/27-Jul...explore-market

LAHORE - Being an emerging economic power, Pakistan can be most important and beneficial partner of Russia in South Asia.

This was stated by Lahore Chamber of Commerce & Industry (LCCI) President Abdul Basit while talking to two-member Russian delegation here at the LCCI. Members of the delegation Igor Kolesov and Elena M Kholod had a detailed discussion with the LCCI chief on the trade and economic issues. Basit said that Russian interest in China Pakistan Economic Corridor (CPEC) is a clear evidence of the fact that CPEC is not only a game changer but it is a world order changer.

He invited the Russian businessmen to explore huge untapped Pakistani market. Both the countries should take sector specific measures to enhance the mutual trade that does not reflect the existing potential, the LCCI president said and expressed hope that both Pakistan and Russian businessmen would enter into joint ventures to benefit each other in their respective businesses and would take level of bilateral trade to new heights with a little sector specific effort.

The LCCI chief said that Pakistan has a lot to offer to Pakistani business community while Pakistani businessmen could learn a lot from Russians for the technological upgradation of their industrial units. Basit said that Pakistanis are grateful to Russian Federation for helping Pakistan establish a mega steel mill at Karachi, which has played a crucial role in the development of the country.

“Today, this steel mill is the biggest source of steel products catering to the demand of the country and value addition for related products. But since then no major initiative has been taken by Russian Federation,” he added.

The LCCI president said that both the countries need to warm up their relations for mutual benefit of people and to play an overwhelming role in international arena on a sustainable basis. He said that Pakistan’s share in total foreign trade of Russia is very insignificant while trade balance is also in the favour of Russia.



He said that though bilateral trade between the two countries is increasing gradually but it was not satisfactory.

He said that Russian Federation is a market of great importance for Pakistan with massive population together with neighbouring countries. He said that Pakistan can export textile, garments, rice, leather, sports goods, surgical equipments and pharmaceutical to the Russian Market while Russia can enhance export of power equipment, steel, urea, chemicals etc to Pakistan.

He said that oil and gas sector in Pakistan offers great opportunities to Russia which has the requisite experience and technology in this field. He said that Russia could evaluate the possibilities of collaboration with Pakistan for mining of marble and granite as well.

He said the private sector of Pakistan can definitely take the lead in exporting various types of consumer goods to Russia and in return Pakistan can supply all types of textile goods, leather & leather products, surgical goods, sports goods, agro-based products & food items, fresh fruits & vegetables, fish & fish preparations, carpets & rugs, pharmaceutical products etc. He said that Russia can also help in introducing Pakistani products in the areas of its influence.
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Old July 27th, 2017, 06:08 PM   #2419
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Govt urged to sign FTA with Maldives

ISLAMABAD (NNI): Economic Expert Humayun Iqbal Shami has urged the government to sign a Free Trade Agreement (FTA) with Maldives.

Talking to Radio Pakistan, he said, “Pakistan can export multiple things to Maldives at large scale.” “Maldives is a South Asian Association for Regional Cooperation (SAARC) member country and we should further strengthen our ties and cooperation with it,” he added.

“Maldives is a small country and its economy is based on tourism. It is becoming a financial and economic attraction because of its beautiful and scenic attractiveness,” the expert said.

IR/Economic Expert Dr Noor Fatima said, “Pakistan and Maldives have unanimously agreed to sign various accords for enhancing cooperation in all areas including trade, education, defence, tourism, and people-to-people contacts.” She said, “Pakistan wanted engagement with regional countries at various levels, and wished to share its development with other regional countries as well.

Our young people can go and work in other countries as Pakistan is working for regional integration.”
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Old July 28th, 2017, 03:17 PM   #2420
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Five Pakistani companies make it to Forbes ‘Best Under A Billion’

https://www.techjuice.pk/five-pakist...der-a-billion/

Forbes has released Asia’s best under a billion companies list 2017. Among many other Asian companies, five Pakistani companies have also secured a place on the list. According to Forbes, the Pakistani companies featured this year are Agriauto Industries, Cherat Packaging, Ferozsons Laboratories, Ghandhara Industries, and Searle Company. Last year seven Pakistani companies made it to the list.

How Forbes compile its ‘Best Under a Billion’ list
According to Forbes, the induction of a company in the list is based on company’s profitability and growth and if their annual revenue does not surpass $1 billion. The media outlet does not include companies that have worrisome accounting, management, and legal issues. This year almost 18,000 candidates were scrutinized. The winning 200 produced best earnings and growth result during the current fiscal year and three-years periods. It would be worth mentioning here that Forbes also excludes companies which earn less than $5 million.

A look at the Pakistani companies who made it

Ferozsons Laboratories, the pharmaceutical products making company has been included in the list for the second time. Ferozsons grew almost 93 percent last year and market value of the company is $102 million. The company was founded on January 28, 1954, and is headquartered in Lahore.

Agriauto Industries manufactures and sell automotive components for motorcycles, and agricultural tractors etc. The current market value of the company is $105 million.

Cherat Packaging makes and sells paper sacks and polypropylene bags for the cement industry of Pakistan and has a market value of $64 million.

Ghandhara Industries, founded on February 23, 1966, makes vehicles varying from pickup, trucks, and buses. The current market value of the company is $113 million.

Searle Company is engaged in making pharmaceutical and consumer products. The company has highest market value when comparing it to other companies included in the list. As of now the market value of the company stands at $696 million.

Chinese companies have dominated the list, securing almost half the numbers in the list. Moreover, Pakistan’s arch rival India is down to three companies on the list.
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