Category Archives: Brokerage

Pak-Afghan Transit Trade decline to $ 1.6 billion: Junaid Makda

Karachi, December 29, 2017 (PPI-OT):Pakistan Afghanistan Joint Chamber of Commerce and Industry’s President, Junaid Esmail Makda, in his statement to Press and Electronic Media, has stated that Pak-Afghan Transit Trade volume has decline to the tune of $1.6 billion in current fiscal year while increased transit trade from India with Afghan Traders through Chahbahar Port will result to further decline in Pak-Afghan Transit Trade. According to traders from both countries bottlenecks and problems are increasing in respect to Pak-Afghan bilateral trade. Traders from Afghanistan and Pakistan are also ambiguous and unaware about the facilities of transit trade from Chaman and Torkham Borders under China Pakistan Economic Corridor Project.

It is pertinent to note that during 2009 to 2012 Pak-Afghan Bilateral Trade was decreased by 46 percent however after Agreement of Afghan-Pak Transit Trade in June 2012 and implementation thereof in mid of 2014-15 Bilateral trade was increased by 65 percent to tune of $2.5 billion. Thereafter due to political estrangement between two countries, India took advantage while providing more facility to Afghan Traders and facilitating trade through Chabahar Port due to which Pak-Afghan Trade has declined sharply.

PAJCCI President Junaid Makda claimed that provided trade and politics are dealt separately, Pak-Afghan Trade volume can be multiplied to $7.5 billion and employment opportunities can be created directly and indirectly for 100,000 Pakistanis. This enhancement in Pak-Afghan Trade will also support to bridge the trade deficit because Pakistan and Afghanistan on 21st January, 2016 signed at United Nation’s Convention on International Transport of Goods under cover of TIR Convention.

Junaid Makda articulated that the Afghan and Pakistani traders involved in Pak-Afghan Trade are not much aware about Pak-Afghan Transit Trade facilities under CPEC. Nevertheless under CPEC with enhancement of facilities for Pak-Afghan Transit Trade, Pakistani traders can gain easy market access to Central Asian Republics via Afghanistan.

PAJCCI is of the opinion that under Pak-Afghan Transit Trade Agreement signed in June, 2012 transit trade shall be continued without any hurdles because the said Agreement has no date of termination. Henceforth the transit trade is continued without renewal of Agreement. However, it necessitates that two countries under Afghanistan Pakistan Transit Trade Coordination Authority should remove all obstacles hampering trade activities, simplify Customs Rules and Procedures and handling of Transit Cargo at Borders more easier.

Junaid Makda lauded Pakistan, China and Afghanistan tripartite Foreign Ministers dialogue to ease the Pak-Afghan Political estrangement, enhance trade or increase security option and counter terrorism activities and offered services and support from PAJCCI in this regard.

For more information, contact:
Pakistan Afghanistan Joint Chamber of Commerce and Industry (PAJCCI)
Tel: +92-21-99218024-7
Fax: +92-21-99218028
Email: info@pajcci.com

Pakistan moving forward on path of development: Masood

President Azad Jammu and Kashmir Masood Khan says Pakistan has successfully defeated terrorism and extremism in all its forms.

Talking to a British Council delegation in Islamabad on Sunday, he said infrastructure of terrorists has been demolished and their back …

BARJEES VOWS TO BUILD PAKISTAN AS ENVISIONED BY QUAID-E-AZAM

Minister for Kashmir Affairs and Gilgit-Baltistan Chaudhry Barjees Tahir has said that the government is making efforts to achieve the targets of development as envisioned by Quaid-e-Azam Muhammad Ali Jinnah.

Addressing a ceremony in Nankana Sahib today in connection with birthday of Quaid-e-Azam, he said that incumbent government has overcome the challenges of terrorism and extremism in the country.

Source: RADIO PAKISTAN

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Karachi, December 20, 2016 (PPI-OT): International

China’s economic growth is expected to cool in 2017 as its top leaders flag tighter monetary policy and further curbs to clamp down on asset price bubbles, especially in the property market, even as a sharp drop in the yuan has fed fears of markets turmoil. http://www.reuters.com/article/uschina-economy-idUSKBN14807H

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Karachi, December 20, 2016 (PPI-OT): Miscellaneous

Dutch company FrieslandCampina Pakistan BV (FC Pakistan) has completed its acquisition of a majority stake in Engro Foods at an estimated price of $446.81 million and the company is expected to bring in expertise and introduce new products. The Netherlands-based dairy company has acquired 51% stake at Rs120 ($1.14) per share in Engro Foods. It acquired 47.1% (or 361.29 million shares) from Engro Corporation, the parent company of Engro Foods, and another 3.9% (or 29.66 million shares) from general public, Faiz Chapra, Company Secretary, said in a notification to the Pakistan Stock Exchange on Monday. http://tribune.com.pk/story/1268342/foreign-directinvestment-dutch-company-acquires-engro-foods-446-81m/

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Karachi, December 20, 2016 (PPI-OT): Steel

Acting Chinese Ambassador Zhao Lijian on Monday announced that China will set up a steel factory in Gwadar. “The steel factory will be three times bigger than the free economic zone being set up in the Gwadar city, and an agreement in this regard between China and Pakistan will be signed soon,” Zhao Lijian said while speaking at a conference on the China-Pakistan Economic Corridor (CPEC) organized by an Islamabad based think-tank, Strategic Vision Institute (SVI).http://nation.com.pk/business/20-Dec-2016/china-to-set-upsteel-factory-in-gwadar-under-cpec