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Cotton trade with India to become smoother

15
Mar '10
In a meeting held between the Presidents of the Cotton Association of India (CAI) and Karachi Cotton Association (KCA), they agreed to amicably resolve all the pending trade issues outside the ambit of the International Cotton Advisory Committee (ICAC).

Mr Dhiren Seth, President of CAI told Mr Sohail Naseem, President of KCA that there was a urgent need to remove bottlenecks in order to ensure smooth trade as well as to bolster cotton trade between the two countries.

The KCA President was of the opinion that, the two countries should amicably resolve their problems, especially matters relating to settling price mechanism and honouring trade deals entered in to by each other.

Another KCA senior member, Mr Shakeel Ahmad observed that, resolving disputes relating to 'Letters of Credit' (L/C) between buyers and sellers were very crucial and should be resolved with good understanding.

He hoped that the Indian traders would also show similar goodwill gesture as was depicted by Pakistani traders in honouring deals. The potential to import cotton from India is very good as transshipment time is very less, added another member.

Fibre2fashion News Desk - India


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