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KCCI urges Bangladesh to sign free trade agreement

Daily Times, December 28, 2005

KCCI urges Bangladesh to sign free trade agreement

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) asked the Bangladesh to materialize the signing of agreed Free Trade Agreement (FTA) without any further loss of time.

Haroon Farooki, president KCCI while talking to a delegation of Bangladesh parliament members Tuesday said there were many other agreements which had been signed between the two countries but their effective implementation in many areas was lacking. He urged upon the delegation they should impress and assist their government in implementing all the agreements including signing of FTA between two countries.

He said volume of trade between the two countries was not more than 12 to 13 percent, and bilateral trade has yet to achieve a major breakthrough. He said there were possibilities of setting up joint ventures in many sectors including textiles, pharmaceuticals, leather, chemicals, It, engineering goods and fertilizers etc. Mr Farooki extended invitation to Bangladesh entrepreneurs to participate in KCCI’s Karachi Exhibition 2006.

Salahuddin Quader Chowdhry, adviser to prime minister of Bangladesh on parliamentary affairs said there was great scope of economic ties between two countries and particularly in textile exports as Paksitan was a major exporter of textile yarn and Bangladesh was exporting value added textiles like readymade garments and still enjoying preferential status from EU. staff report

 source: Daily Times