LCCI, SRTEPC India sign MoU to fortify trade ties

05 Dec '12

2 min read

A Memorandum of Understanding (MoU) for strengthening trade ties and sharing trade related information has been signed by Lahore Chamber of Commerce and Industry (LCCI) and Synthetic & Rayon Textiles Export Promotion Council (SRTEPC), India.

SRTEPC Chairman Vinod Kumar Ladia said similar business trends prevail in Indian and Pakistani textile sectors, and joint efforts on this side can lead to generation of a favourable situation for industries of both the nations.

Further noting that business communities of both the countries are ready to play their part, he urged the governments of the two nations to speedily act to normalize trade relations as soon as possible.

Mr. Ladia also highlighted the need for joint ventures between the two economies, noting that there is much that both the countries can share in diverse sectors.

He said Pakistani entrepreneurs should take their Indian counterparts as associates, rather than competitors. Entrepreneurs from both nations should strategise for mutually beneficial trade, business and supply cooperation, he added.

In his inaugural speech at INTEXPO-2012, organized by the Ministry of Textiles, Government of India, to showcase India’s supply capabilities across textile value chain and extend a unique sourcing opportunity to global buyers, LCCI President Farooq Iftikhar too replicated similar views.

Mr. Iftikhar said India and Pakistan should set aside all the differences that have been impeding the way of economic growth and prosperity of the two nations and try to gain from each other’s strengths.

He said the expo has extended a platform for representatives of private sector of both the countries to develop close contacts with each other, as entrepreneurs in both countries have always longed for arranging sector-specific exhibitions in each other’s countries.

He further said the expo is uniquely significant, as it has been organized at a time when both countries are working to finalize several matters, particularly those related to the most favoured nation (MFN) status.

Mr. Ladia informed that about 35 leading textile enterprises from India showcased their latest collections at the expo, affording an opportunity to Pakistani entrepreneurs to know and join them.

Fibre2fashion News Desk - India

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