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Pakistan signs cotton trade accord with Turkey
11
Oct '11
An agreement for export of cotton from Pakistan to Turkey has been signed by Riaz Pirzada, Pakistan's Federal Minister for Professional and Technical training, and Atif Saeed Dada, a Turkish member of Board Agaglu and owner of Dada Private Sons and Star Cotton.

After Turkey's trade break-up with Israel, Turkish Prime Minister Tayyib Urdgan had expressed the desire to enter into trade agreements with Pakistan Government.

Under the accord, the feasibility and capacity of Pakistan to export its cotton would be analysed this year, and from next year onwards cotton would be exported to Turkey. The agreement envisages export of up to 5 million bales of cotton to Turkey.

Pakistan's Federal Minister Riaz Pirzada said the price of cotton would increase because of the agreement, benefiting the farmers. He added that trade with Turkey would bring in new opportunities for businessmen and it would also contribute in stabilizing the country's economy.

Mr. Atif Saeed Dada said although Pakistan itself is a cotton-consuming state, Turkey would prefer to import surplus cotton from Pakistan, rather than importing from other countries.

Fibre2fashion News Desk - India

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