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March 3, 2015

Aptma urges direct shipping line to Chittagong

 
March 3, 2015

LAHORE: All Pakistan Textile Mills Association (Aptma) urges for a direct shipping line between Karachi and Chittagong during the Bangladesh High Commissioner to Pakistan Sohrab Hussain’s visit at the Aptma office on Monday.
The high commissioner said that contrary to the general perception, Bangladesh had supported GSP plus facility for Pakistan. He also shared the steps the government of Bangladesh took to maximise the opportunities provided by GSP plus.
While assuring the Aptma members of dealing with visa hassles on priority, Sohrab Hussain expressed the hope that enhanced bilateral trade would benefit both countries. He also appreciated the ideas relating to trade and investment ties between Pakistan and Bangladesh.
Hussain was briefed about Pak-Bangladesh textile scenario by Aptma Chairman SM Tanveer and Aptma Group leader Gohar Ejaz.
Tanveer said Pakistan’s total exports to Bangladesh stood at $718 million in 2013-14, out of which textile exports were recorded at $709 million. The share of cotton cloth and cotton yarn was higher among all textile sector products to Bangladesh, which was recorded at $454 million and $117 million respectively in 2013-14, he added.
He said the export of raw material from Bangladesh plays a vital role for the garment industry of Bangladesh, which requires more cooperation on the bilateral trade front.
He said there was an urgent need to start a direct shipping line between Karachi and Chittagong, which will take five to 10 days against 25 to 30 days at present due to indirect shipping lines between the two countries.
Aptma chairman also underscored the need of resolving banking issues, since the LC payment gets cleared in 125 days against the standard period of 90 days.