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Pakistan, Tajikistan sign MoU on collaboration in textiles
19
Jun '14
courtesy: PID
courtesy: PID
The Governments of Pakistan and Tajikistan have signed a memorandum of understanding (MoU) on collaboration in Textiles Development, during the visit of Pakistan Prime Minister Nawaz Sharif to the Central Asian nation.
 
The MoU was signed by Pakistan’s Minister of Textile Industry Abbas Khan Afridi and Tajikistan’s Minister of Industries and New Technologies, in presence of Prime Minister Sharif and Tajik President Emomali Rahmon Sharipovich at Dushanbe.
 
As per the MoU, both the nations would exchange information on cotton, organize training programmes, exchange visits of experts and trade delegations, and establish joint enterprises.
 
The MoU also mentions that the National Textile University Faisalabad and Tajik Technological University would facilitate research in fibre development and textile related technologies.
 
In addition, seminars, trade fairs and exhibitions would be organized on a regular basis to enhance trade between the two countries, according to the MoU.
 
During the visit, Prime Minister Sharif and President Rahmon agreed to set a target of expanding bilateral trade to US$ 500 million over the next three years, and to work for a Preferential Trade Agreement (PTA). The leaders also agreed to reinforce economic cooperation through existing and new institutional frameworks. 
 
The two sides highlighted the significant opportunities existing for mutual investment and agreed to take steps, through their respective investment promotion institutions, to ensure a favorable environment for investors from both countries. 
 
It was also agreed to establish a Joint Business Council (JBC) to intensify collaboration between the private sectors of the two countries.
 

Fibre2fashion News Desk - India


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