Trade Chronicle March - April 2017

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TRADE CHRONICLE China's ambitions, Pakistan is well positioned and part of this ambitious plan of economic and political globalisation. Pakistan through the CPEC, in particular, must reach out to the West to gain diplomatic, political and economic mileage out of the given opportunities. The US, the UK and Europe are the largest foreign direct investors in Pakistan. They have historic, social and business ties with Pakistan and the whole of Asia where their impressive footprints in culture, social sector and business segments are visible. Above all, there exist great people-to-people contacts. The CPEC's initial phase includes over $35 billion investments in Pakistan's power sector and over $10 billion investments in infrastructure projects. Moreover, 29 Special Economic Zones - to spur industrial and commercial activities - will be established all over Pakistan in the proximity of the corridor. China, under a long-term lease, is developing Pakistan's Gwadar Port and a container terminal and an economic zone in its proximity. All projects and Special Economic Zones under the CPEC are open for investments, supplies, contracting and services to all countries offering opportunities in power sector, oil and gas, mines and minerals, industry, small and medium industry, healthcare sector, education, service and hospitality industry, engineering-consultancyconstruction services and others. Pakistan is blessed with abundant natural resources and a vast domestic market and a willing workforce but we need to put our act together to move on with greater speed. There can be no better opportunity to do so than the CPEC which offers us incentives to put our house in order. The nation has missed many opportunities but missing this out is not an option. (The writer is former President Overseas Investors Chamber of Commerce & Industry) (Courtesy Buisness Recorder) Pakistan to join 25 big economies by 2025: Ahsan Minister for Planning, Development and Reforms Ahsan Iqbal said that Pakistan would join 25 big economies of the world by the year 2025. While speaking at an International Marketing Congress recently, Ahsan said Gwadar Port will emerge as a leading port in the next two decades and Pakistan will become an epicenter of regional connectivity due to the China-Pakistan Economic Corridor (CPEC). He said free trade zones are being developed at Gwadar which would make it an industrial hub of the region. Under the CPEC, nine industrial zones will be established all over the country which would bring about an industrial revolution. In the next 20 years, Gwadar would become a leading small port city with airports, free industrial zones, infrastructure and other facilities, he said. The minister said the government is spending all available resources to build infrastructure which is essential f o r e c o n o m i c d e v e l o p m e n t . Consistency in policies is needed to continue the journey of progress and prosperity. Ahsan further said that industrial cooperation between Pakistan and China would result in promotion of local industry and production capacity. “ P r o m o t i o n o f i n d u s t r i a l development is the fourth key pillar of the China-Pakistan Economic Corridor. Due to industrial cooperation, the Chinese industries would be shifted to Pakistan instead of other countries,” he said. “The establishment of Chinese industries in Pakistan would also help eradicate unemployment in the country and boost skill development.” Ahsan further said the local industrialists would get massive investment opportunities following the establishment of the industrial zones in the country. The Chinese industry is not a threat to Pakistan's industrial sector as it would provide the opportunity to learn new skills, he added. The minister said, “Asia would have a key role in the 21st century with reference to global economy. Asia would become engine of global economy as it would provide over 50- per cent of world GDP,” he said. He also said that politics becomes secondary when national interest is involved. After coming into power in 2013, the Pakistan Muslim League (PML-N) government prioritized the energy sector and initiated long, medium and short-term power projects by exploiting all resources. He said that rail track is being upgraded from Landi Kotal to Karachi. Within the next few years, train would attain 180-kilometre per hour speed on this track. Fibre optic cable is also being laid from China to Pakistan for data connectivity and it would connect Pakistan with the fastest internet communication system, he added. TRADE CHRONICLE - Mar .~April. 2017 - Page # 14
Leather Industry SRC: facilitates LWG workshops in Pakistan A Chronicle Report Pakistan renowned name in leather chemicals M/s Shafi Reso Chem has been pioneer in arranging seminars and conference for the betterment of the leather industries in the country. The company arranged important seminars – theme “Challenges & Opportunities for Leather & Made-ups” and “LWG & SRC for Safe Leather” on the sidelines of 3rd PMLS 2016. It also arranged a very important Training & Workshop on 3rd March, 2017 in Lahore. Ms. Jutta Knoedler of I-T-G GmbH Environment Technology, Germany and an auditor of Leather Working Group (LWG); Abrar Ahmed, Chief Executive, Shafi Reso Chem; S Anjum Zafar, Chief Executive of Eastern Leather & Chairman, PTA and Agha Saiddain, former Chairman PTA & Director, Royal Leather, addressed the seminar. Ms. Jutta Knoedler of Leather Working Group (LWG) Abrar Ahmed, Chief Executive Shafi Reso Chem S.Anjum Zafar, Chief Executive Agha Saiddain, former Chairman of Eastern Leather & Chairman PTA PTA & Director Royal Leather Pakistan leading leather chemical manufacturer - Shafi Reso Chem has organized a training & workshop on the importance and acquiring the membership of Leather Working Group in order to meet terms and conditions of international brands. The full day workshop for the awareness of LWG Certification was attended by tannery owners, f o o t w e a r a n d g a r m e n t s manufacturers and their technicians. LWG Certification would be required in future by the leather exporters who maintain smooth trading with the renowned brand manufacturers effectively. According to leather industry sources, a deadline of 2018 is being set by all the leading brands of world for Pakistan tanners to acquire LWG Group membership in order to continue exports. Three companies from Pakistan have already acquired this status, which include DADA Enterprises Private Limited, Siddiq Leather and Muhammad Shafi Tanneries. In comparison, about fifty Indian exporters have acquired this membership. Thus Pakistan Tanners Association has advocating to government to provide financial support for this costly mandatory requirement. In the workshop, the auditor Ms. Ms Jutta presented a comprehensive detailed lecture and presented details about the benefits of certification of LWG to the tanners, shoes and garments manufacturers. On this occasion, Mr. Anjum Zafar, Chairman, (PTA) Pakistan Tanners Association and Chief Executive, Eastern Leather Co. addressed the audience and briefed the importance of LWG certification and also pointed out the difficulties, problems and financial burden to be faced by the tanners and also welcomed the Govt. financial assistance / support to tanners to enhance the export of leather to the branded manufacturer of leather products. Mr. Anjum Zafar advised the tanners and owners to face the challenge to enhance their export. LWG specially must for those tanneries who wish to sell their products to brand manufacturers. TRADE CHRONICLE - Mar .~April. 2017 - Page # 15
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Trade Chronicle March - April 2017

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