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Old January 26th, 2012, 06:55 PM   #1461
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Originally Posted by taseer121 View Post
I think the figure is exaggerated if they had invested that much then it would have showed but this is complete exaggeration.
you are absolutely right! They even could not complete 1 tower in crescent bay and are saying they invested or gonna invest 21 billion!!
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Old January 26th, 2012, 10:36 PM   #1462
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It may be overall, over decades. That would make some sense?

I hope all ADB investment/funding goes into energy.
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Old January 27th, 2012, 12:17 AM   #1463
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Trade ties: Pakistan, India finalise 3 pacts to remove non-tariff barriers

LCCI president brings up other obstructions to trade, including uncooperative customs officials and labour shortages.

Estranged neighbours Pakistan and India have finalised three agreements to remove non-tariff barriers which were obstructions for Pakistani exports to India, an Indian commerce ministry official has said.

“These agreements are expected to be signed during an upcoming visit by the Indian commerce minister next month,” Arvind Mehta, Indian joint secretary for commerce, said at the Lahore Chamber of Commerce and Industry on Thursday.

The agreements include the Customs Cooperation Agreement, which will avoid arbitrary stoppages of goods at each other’s ports; Mutual Recognition Agreement for acceptance of certificates of internationally-accredited laboratories; and Redressal of Grievances Agreement in case of a disagreement, he said.

“Both sides have also finalised a liberal visa regime that will be in place as soon as the two countries’ cabinets grant their approvals,” said Mehta, who was leading a five-member delegation of Indian regulators to Pakistan.

He said that the peak tariff line in India for Pakistan is 8%, which is going to be curtailed to 5% by end of the year.

Cement trade and other barriers
Mehta clarified that the NTBs over cement export to India were not specific to Pakistan but there is a delay in clearance, which is due to poor infrastructure on both sides. “India is building a customs complex, at the cost of $30 million, which will be complete within three months. It will enable customs officials from both sides to handle 800 trucks daily.”

LCCI President Irfan Qaiser Sheikh agreed that the NTBs hinder meaningful improvement in bilateral trade ties, and pointed out various other barriers to trade.

He said that among other barriers, quality parameters vary from city to city. Clearance requirements and certifications also consume a lot of time and money and multiple conditions have to be met at the clearance stage, such as agricultural permits. He also mentioned licensing requirements for import of vehicles, textile-specific barriers and health and safety regulations.

Sheikh said that currently, Indian and Pakistani customs authorities do not accept lab reports and quality control certificates of consignments conducted by custom labs of both countries. “It is requested that customs authorities on both sides accept reports and certificates provided by exporters and importers of each country as Pakistan and India have the same environment and standards,” he said.

He said that Pakistani authorities are accommodating approximately 150 trucks of Indian consignments daily and Pakistani exports to India have also increased to 150 trucks per day. “But Indian customs authorities clear only 100 Pakistani trucks daily,” he said. “We request them to make every effort to ensure that 150 Pakistani trucks go to India.”

Sheikh also pointed out to unnecessary delays in trade, saying that under a protocol signed between the two governments, Indian and Pakistani customs authorities only allow 10-wheeler trucks and hydraulic dumpers for goods movement. “Twelve- and 14-wheeler trucks should also be allowed to cross the border.”

He said that often, Pakistani trucks return without off-loading due to unavailability of labour on the Indian side, causing Pakistani exporters huge losses in the form of extra transportation charges. He requested Indian authorities to ensure enough labour force to offload Pakistani consignments in their customs yard.
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Old January 28th, 2012, 08:30 PM   #1464
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Pakistan keen to move towards FTA with Thailand: Gilani

Prime Minister Syed Yusuf Raza Gilani on Friday said Pakistan was keen to move towards a Free Trade Agreement with Thailand and stressed focussed talks for increased bilateral trade between the two countries. Talking to Yingluck Shinawatra, Prime Minister of Thailand, here on the margins of the World Economic Forum meeting, Gilani said the trade between the two countries was increasing progressively and had touched US one billion dollars. He said there was a huge potential to increase it further.

Foreign Minister Hina Rabbani Khar briefing media persons, said Pakistan and Thailand had agreed to initiate a process towards an FTA in 2005. She said Thailand was keen to move forward and said the two sides agreed on activating the Joint Economic Commission at the earliest.

She said the meeting of the JEC that has not been held for a long time now, would cover economic, trade and investment relations between the two countries and encourage business-to-business partnership.

She said the Prime Minister was also appreciative of Thailandís consistent support to Pakistanís Full Dialogue Partnership with the ASEAN, which would be of mutual benefit for both the countries.

The Thai Prime Minister expressed strong support for the efforts to strengthen trade and economic cooperation and in this regard stressed the importance of optimally utilizing the existing mechanisms.

She also underlined potential of the proposed new institutional frameworks like Joint Trade Committee (JTC) and Joint Business Council (JBC) in deepening and broadening bilateral economic ties.

Prime Minister Gilani stressed there was a need to build a partnership of mutual benefit and recalled that the two countries marked 60 years of establishment of their diplomatic ties in 2011.

Gilani said on the civilizational journey the two countries have been together for over 2000 years.

He said Pakistan has proudly preserved and promoted the Gandhara heritage that forms a bond between the two countries and peoples, and hoped that this cultural connection will always be a central pillar of their relationship. The Prime Minister called for transforming this cordial relationship into a strong partnership of mutual benefit in all areas of common interest.

He said Pakistan and Thailand share similar views on a broad range of issues related to peace, development and security and added that the ties between the two countries have further strengthened due to Pakistanís ďVision East AsiaĒ policy. He stressed increased trade and commercial collaboration.

Prime Minister Gilani said through intensified mutual collaboration, both the countries can advance shared objectives like regional connectivity and trans-regional development cooperation.

The Prime Minister said that the people of Pakistan and the government were looking forward to welcome Princess Maja von Hohenzollern, at the invitation of President Asif Ali Zardari.

Prime Minister Gilani said Pakistan is an investment destination and offers the most attractive and liberal investment policy. He said several areas in Pakistan offer good potential for Thai businessmen to invest in Pakistan, including gems and jewellery, textile and agro-based industries.

Pakistan and Thailand have a rich potential to expand trade and have the scope to cooperate in production of automobile parts and machineries, dairy and livestock sector, canning industry for seafood, textile garments, made-ups, bed wears, towels, hosieries and fabrics, processing of meat and poultry for exports, tourism related services, infrastructure requirement to support massive growth, power sector and oil and gas exploration.

In 2010, the volume of bilateral trade touched US $ 915 million; textile, yarn, seafood, leather, chemical product, and medical equipment accounting for Pakistanís major exports to Thailand, and motorcars, chemical product, plastic, air conditioner and parts, synthetic textile, rubber product, refrigerator and cloth accounting for Thai export to Pakistan.

Prime Minister Gilani congratulated the Prime Minister of Thailand for being the first woman premier of her country.
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Old January 28th, 2012, 10:14 PM   #1465
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Originally Posted by Ahmad Rashid Ahmad View Post

Pakistan keen to move towards FTA with Thailand: Gilani


http://www.brecorder.com/pakistan/bu...d-gilani-.html



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Old January 29th, 2012, 03:10 AM   #1466
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That's a lot of trade with Thailand! Hopegully we can import masseuses now too under this agreement.
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Old January 29th, 2012, 08:44 PM   #1467
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what is bilateral trade between Pk and Thailand?
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Old January 29th, 2012, 10:21 PM   #1468
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In 2010, the volume of bilateral trade was US $ 915 million...
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Old January 29th, 2012, 10:38 PM   #1469
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cool. should expand this.
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Old February 4th, 2012, 10:30 PM   #1470
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Pakistan-Indonesia sign much-awaited PTA

Pakistan and Indonesia have signed the much-awaited Preferential Trade Agreement (PTA) to enhance bilateral trade between the two brotherly countries.

Under the agreement, Indonesia agreed to offer market access to Pakistan on 216 tariff lines on preferential rate. Pakistanís offer list to Indonesia under the agreement includes a total of 287 tariff lines for market access at preferential tariff.

On Friday, Minister of Trade of Indonesia, Gita Wirjawan, and Ambassador of the Islamic Republic of Pakistan Sanaullah, signed the PTA in Jakarta, a Ministry of Commerce statement issued here stated.

Pakistan and Indonesia signed the Comprehensive Economic Partnership Agreement (CEPA) in November 2005 on the occasion of the visit of the president of Indonesia to Pakistan. Under the provisions of CEPA, both countries, in 2006, commenced negotiations to conclude a PTA. The agreement would ultimately create a Free Trade Area between the two countries. Both countries successfully concluded the negotiations process during the 8th round of negotiations held on September 16, 2011 in Jakarta, Indonesia where Pakistan delegation was led by Commerce Secretary Zafar Mahmood.

Under the agreement, Indonesia agreed to offer market access to Pakistan on 216 tariff lines on preferential rate. The Indonesian offer list includes the products of export interest of Pakistan including fresh fruits, cotton yarn, cotton fabrics, readymade garments, fans (ceiling, table, pedestal) sports goods (badminton and lawn tennis rackets), leather goods and other industrial products. Indonesia also offered market access to kinnow from Pakistan at zero percent, which will provide a level-playing field to this product in the Indonesian market.

Pakistanís offer list to Indonesia under the agreement includes a total of 287 tariff lines for market access at preferential tariff. Pakistan also agreed to provide the same treatment on palm oil products from Indonesia as provided to Malaysia under Pakistan-Malaysia FTA. It means Pakistan will import palm oil from Indonesia at 15 percent Margin of Preference (MoP) rate.

Pakistan has been importing palm oil and its products from Malaysia and Indonesia. The preferential market access provided by Pakistan to Indonesian palm products will have a positive impact on the overall economy of the country. It is expected that this will result in saving approximately $300 million of foreign exchange of Pakistan. It will also help in decreasing the prices of vegetable ghee, cooking oil etc in the country, which are going beyond the reach of common man and will create competition in the market, which will discourage monopolistic trends.

The cabinet in its meeting held on November 2, 2011 approved the signing and ratification of the PTA between the two countries. The commerce minister was scheduled to travel to Jakarta on the invitation of his Indonesian counterpart to sign the PTA. However due to the session of the parliament, the prime minister authorised the Pakistan ambassador in Jakarta to sign the PTA on behalf of the government of Pakistan.

The agreement shall enter into force 30 days after the date on which the parties exchange written notifications for completion of their respective legal procedures. Pakistan has completed all its internal formalities to implement the PTA. Indonesia is in the process of completing its codal formalities and the diplomatic note will be exchanged by the parties as soon as the formalities are completed by the Indonesian government.
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Old February 6th, 2012, 09:26 PM   #1471
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Pakistan, Qatar agree on cooperation in energy, trade, infrastructure

Prime Minister Syed Yusuf Raza Gilani and his Qatari counterpart Sheikh Hamad bin Jassim bin Jabar Al Thani on Monday agreed to collaborate in diverse areas mainly energy, trade, agriculture and infrastructure development. The two leaders discussed ways to further promote trade and investment ties compatible to their bilateral relations in a meeting held here at the Amiri Diwan - the office of Qatarís Prime Minister.The two sides discussed diverse issues, including joint development of hydropower sector, identification of sources of financing, exploration of investment opportunities in energy sector, rehabilitation of existing hydropower plants and infrastructure development.

Pointing out the issue of finalization of transnational formalities to import Liquified Natural Gas (LNG) at the earliest, Prime Minister Gilani said Pakistan was interested in importing 500 million cubic feet LNG per day from Qatar that produces 77 million tonnes per annum of LNG.

The Qatarís Minister for Energy will visit Pakistan during this month to hold talks with his counterpart in which substantial progress is expected.

Gilani offered Sheikh Hamad Bin Jassim to absorb Pakistani skilled and semi-skilled labour in Qatar and said that already 87,000 Pakistani expatriates were efficiently contributing to Qatarís economy.

He said that a separate Ministry for Professional and Technical Training had been set up to impart technical and professional training to Pakistanis enabling them to work in the Arab countries in general and Qatar in particular.

He mentioned that more Pakistanis could effectively be part of Qatarís demand of two million workforce for its infrastructure projects for FIFA 2022 World Cup to be held in Doha.

Prime Minister Gilani stressed the need for diversifying the trade potential between the two countries. He expressed satisfaction over the remittances from Qatar that increased substantially.

On the Afghan issue, the Prime Minister said Pakistan wanted a stable, prosperous and independent Afghanistan and would support any reconciliation process which was Afghan-led and Afghan-owned and did not cause instability in Pakistan.

The Prime Minister appreciated the initiatives of the Qatari Government for facilitating the efforts for peace in Afghanistan.

He said that Pakistan wanted good relations with all its neighbours, including Afghanistan and India.

He referred to his meeting with Indian Prime Minister Manmohan Singh and said that both the countries were committed to bring peace in the Sub-continent.
He also expressed satisfaction over the security and defence cooperation between the two countries.

The Qatarís Prime Minister said his country was ready to invest up to five billion dollars in Pakistan in agriculture, tourism and infrastructure and other sectors.

He proposed Pakistan to hold an exhibition of its products in Qatar and offered assistance in holding the exhibition aimed at creating demands for the products of high quality.

The Qatarís Prime Minister briefed Prime Minister Gilani on the situation in Syria and the stance taken by the Arab world and the GCC (Gulf Cooperation Council) countries.

He vowed that Qatar would support Pakistan to initiate a Free Trade Agreement with the GCC countries.

Foreign Minister Hina Rabbani Khar said Pakistan has always supported peace and stability in the Middle East.

She called for expediting the Pak-GCC Free Trade Agreement on which two rounds had already taken place.

The meeting was attended by Minister for Foreign Affairs Hina Rabbani Khar, Minister for Petroleum and Natural Resources Dr Asim Hussain, Minister for Technical and Vocational Education Riaz Hussain Pirzada and Member of the National Assembly Munir Aurakzai.

Earlier, a guard of honour ceremony was held on the arrival of Prime Minister Gilani at the Amiri Diwan. The Prime Minister reviewed the parade after the national anthems of two countries were played.
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Old February 8th, 2012, 05:50 PM   #1472
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UAE to announce projects in Pakistan

United Arab Emirates (UAE) is planning to announce projects in banking and agriculture sectors of Pakistan in a few months.

Consul General of UAE, Suhail Bin Matar Al Ketbi during a meeting with members of Karachi Chamber of Commerce and Industry (KCCI) said UAE was in a state to explore the potential in some other sectors and enhance the bilateral trade.

The Chief Executive Officer (CEO) of a listed company in Dubai holding and its subsidiary in Pakistan said UAE has many proposals to invest in Pakistan but the investors were fearing the negative perception owing to the Pakistanís infrastructure, political instability and other economic crisis were the hurdles.

KCCI President, Mian Abrar Ahmad proposed to participate in My Karachi-Oasis of Harmony exhibition to be held in the July of current year.

The exhibition is being organised with the aim to remove the negative perception created in the minds of foreign investors about Pakistan.

For investments in the agriculture sector, he suggested the corporate farming to invest, produce and take back whatever is produced.

He said to form joint chamber of commerce between Pakistan and UAE, as Pak-Afghan Chamber has been incorporated and Karachi-Bombay Chamber was in the pipeline to be formed.

He said about nine joint chambers were in the pipeline at present and emphasised upon the development of regional trade, particularly with South Asian Association for Regional Cooperation (SAARC) countries.
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Old February 9th, 2012, 05:08 AM   #1473
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Could be interesting.
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Old February 9th, 2012, 11:13 PM   #1474
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Pakistan, Russia to enhance cooperation in trade, energy


Russian Energy Minister Sergei Shmatko met Foreign Minister Hina Rabbani Khar in Moscow on Thursday, according to the media.

It was learnt that both countries have agreed to cooperate in the energy sector. Russia has expressed interest in TAPI, Thar Coal and KASA 1000 energy projects, and has also shown interest in more investment in the Pakistan Steel Mills.

On Wednesday, Pakistan and Russia agreed to promote and enhance bilateral relations in the fields of trade, energy and people-to-people contacts.

Addressing a joint press conference along with her Russian counterpart Sergei Lavrov, Foreign Minister Hina Rabbani Khar highlighted scope for cooperation between the two countries in various fields and all aspects for improving cooperation had been discussed during the meeting of the two foreign ministers.

Both countries also agreed that there would be more interaction between the chambers of commerce and industries of the two countries to improve trade activities.

It was also learnt that Russian investors have shown interest in investing in different energy projects like Thar Coal.

On the regional level of cooperation, Khar said the Shanghai Cooperation Organization (SCO) was a forum in the region to face and counter regional challenges. She said Pakistan was actively participating in the deliberations of SCO and seeking permanent membership and thanked the Russian Federation extending its support on this issue.

The next quadrilateral summit being held in Pakistan was also discussed during the meeting with her Russian counterpart.

Addressing the joint press conference Russian Foreign Minister Sergei Lavrov said both countries have agreed to cooperate in fighting terrorism and drug crimes.

He said, the federal service representative of Russia on the control of drug substances would start working in Islamabad soon.

On the issue of promotion of trade relations, Lavrov said Russia had provided Pakistan its draft of a joint action plan in trade and investments.

Cooperation in the framework of the SCO, the Dushanbe quartet and the UN Security Council was also discussed by the two foreign ministers.

Pakistan is the Security Councilís permanent member for 2012-2013.

Khar is visiting Moscow on the invitation of her Russian counterpart from February 7 to 10.
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Old February 10th, 2012, 04:50 AM   #1475
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man pakistans FM is prettyyyy lolz
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Old February 10th, 2012, 09:40 PM   #1476
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remittances are up 21% y/o/y for the last 7 fiscal months.

http://www.thenews.com.pk/article-34794-Expats-remittances-up-by-21pc-to-$7.44bn
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Old February 10th, 2012, 09:50 PM   #1477
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Zardari, Rajapaksa agree to increase bilateral trade to $2b

Pakistan and Sri Lanka have agreed to jack up their bilateral trade to $2 billion in the next three years, as President Asif Ali Zardari met his Sri Lankan counterpart Mahinda Rajapaksa on Friday.

Currently, bilateral trade is valued at $375 million, and includes import of rubber and tea from Sri Lanka and export of cotton and cereal grains.

The Sri Lankan president, who is on a three-day official visit to Pakistan, held a one-on-one meeting with President Zardari followed by delegation-level talks at the Presidency, said an official statement.

According to the statement, Zardari called for stepping up efforts to fully realise the potential of a free trade agreement (FTA) between Pakistan and Sri Lanka. Colombo was among the first to enter into an FTA with Islamabad.
The president also suggested a currency swap agreement with Sri Lanka in order to provide incentives to business houses in both countries to actively explore and enhance business linkages using local currencies for trade.

Presidential spokesperson Farhatullah Babar said that the two heads of state also discussed matters regarding bilateral diplomatic relations, mutual cooperation with special reference to trade and commercial ties and regional and international issues. The president himself welcomed President Rajapaksa and members of the Sri Lankan delegation to the Presidency.

Zardari remarked that relations between Pakistan and Sri Lanka have also been marked by a measure of consistency and commonality of views on important regional and global issues. ďThe two countries have stood together and supported each other in all important matters concerning our two countries,Ē he said.

The president urged the business community and the chambers of commerce of the two countries to fully avail the huge trade and business potential that the two countries offer in diverse fields, including the financial and banking sector, science and technology, defence, agriculture, tourism, gems and jewellery besides promoting cultural exchanges.

He proposed the establishment of a direct shipping service between the two countries, which he said would help enhance the level of bilateral trade. The president appreciated the Sri Lankan government for the important contribution it had made in assisting Pakistan cope with the outbreak of dengue fever last year, which killed hundreds across the country. He proposed that Sri Lankan experts train Pakistani nurses to deal with such an epidemic should it break out in the future.

He also assured Pakistanís continued cooperation to Sri Lanka in various fields, including defence and security.

Babar said that Rajapaksa thanked President Zardari and the Pakistan government for according him and his countryís delegation a warm welcome.
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Old February 10th, 2012, 10:48 PM   #1478
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Pakistan approves sugar exports for first time since 2009


ISLAMABAD/DUBAI: Pakistan has approved the export of sugar for the first time in nearly three years, spurred by an expected surplus of more than 1 million tonnes, but the move is unlikely to affect the global market, which has priced in rising output in other countries.

Pakistan was forced to import about 1.2 million tonnes of sugar in 2010 after production fell to 3.1 million tonnes from the 2009/10 crop year, when many farmers switched to more profitable crops.
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Old February 10th, 2012, 10:50 PM   #1479
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Incoming: Japan group considering investing $40m in Karachi


An investor group of Japan is considering investing more than $40 million in information technology and wind energy in Karachi and the proposal comes right after completion of a $10 million investment by the group in an IT park in the city.
A delegation of DTS Japan Group floated the proposal of fresh investment in a meeting with Sindh Commerce and Industries Minister Rauf Siddiqui at the minister’s office here. The delegation, headed by Group Chairman Dr Taka Hashi, expressed interest in investing further in Karachi in different projects, especially wind energy and information technology.
It is also planning to tap the automobile sector by introducing new Japan-made three-wheeler electric and solar cars at cheap rates.
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Old February 10th, 2012, 10:55 PM   #1480
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Renewable energy finds new home



Global renewable energy investors are increasingly looking to South and Southeast Asia, lured by lucrative incentives announced by governments in the region, as the outlook for clean energy investment in Europe and US remains bleak.
In Pakistan, the Turkish Zorlu Energy Group is building a $144 million, 54.6 megawatt (MW) wind power project with the Asian Development Bank, the World Bank and Pakistanís Habib Bank Limited helping to fund the venture. Nordex SE, an international firm that specializes in wind turbines, has announced that it has signed supply and service contracts in Pakistan for wind farms with a combined capacity of 250 MW.
The China Three Gorges Group has similarly signed three separate wind power deals with Pakistan, the wind turbines for which will be supplied by the China Xinjiang Goldwind Science & Technology Company Limited.
While investment opportunities in South and Southeast Asia may be new, accompanying problems are not unfamiliar. Investors complain of confusing regulatory frameworks and complicated tax and labour laws. Weak infrastructure drives up costs for project developers, and inefficient power grids discourage deployment of renewable energy in areas requiring power supply. Competition is also toughening up, with local companies willing to slug it out with international players
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