Tag: Trade
US trade gap widens in December, swells 33pc in 2010
WASHINGTON: The US trade deficit widened in December to its highest level in four months, the US government said on Friday in a report that also showed the annual trade gap expanded nearly 33 percent in 2010 as imports from China hit record levels.
The December trade deficit grew nearly six percent to $40.6 billion, just slightly higher than a consensus estimate of Wall Street analysts, as the average price for imported oil leapt to its highest level since October 2008.
The December trade deficit grew nearly six percent to $40.6 billion, just slightly higher than a consensus estimate of Wall Street analysts, as the average price for imported oil leapt to its highest level since October 2008.
Pakistan seeks Japanese assistance in trade and energy
KARACHI: Pakistan would seek Japanese assistance in five broad areas including trade, development, security, energy and institution building during President Zardari's visit to Japan.
The president is likely to visit Japan by the end of this month as the Ministry of Foreign Affairs has sought proposals from various government institutions, trade bodies and chambers of commerce for boosting the existing trade volume between Pakistan and Japan, sources said.
Zardari, who last
The president is likely to visit Japan by the end of this month as the Ministry of Foreign Affairs has sought proposals from various government institutions, trade bodies and chambers of commerce for boosting the existing trade volume between Pakistan and Japan, sources said.
Zardari, who last
Pakistan and Afghanistan discuss transit trade
ISLAMABAD: Pakistan and Afghanistan held talks on Friday for finalising implementation procedures for installing tracking system, biometric system and establishing bank guarantee system and other international requirements for the start of Afghanistan Pakistan Transit Trade Agreement (APTTA).
These issues were discussed at the first meeting of the Afghanistan Pakistan Transit Trade Coordination Authority (APTTCA) on Friday. Commerce Secretary Zafar Mahmood and Afghan Deputy
These issues were discussed at the first meeting of the Afghanistan Pakistan Transit Trade Coordination Authority (APTTCA) on Friday. Commerce Secretary Zafar Mahmood and Afghan Deputy
Pakistan and Thailand register record trade levels
ISLAMABAD - Pakistan and Thailand have registered record bilateral trade levels during 2010. The total bilateral trade during 2010 (January-December) amounted to $916 million, which also represented an increase of 15 percent in total trade which was $794.5 million in 2009.
Bilateral trade in 2008 was to the tune of $737 million, which indicates that in two years; the overall trade volume has expanded by almost 25 percent. There has been a consistently positive trend in bilateral
Bilateral trade in 2008 was to the tune of $737 million, which indicates that in two years; the overall trade volume has expanded by almost 25 percent. There has been a consistently positive trend in bilateral
Trade across LoC may help improve Indo-Pak peace: PILDAT
ISLAMABAD - The trust developed through small barter trade taking place between Indian held Kashmir and Azad Kashmir has provided some former militants peaceful, non-violent role and alternative vision for change and conflict transformation despite considerable obstacles being faced by traders living on both sides of the Line of Control (LoC).
"The cross border relationships of trust developed through trade have proved to have resilience to political turmoil and have begun to
"The cross border relationships of trust developed through trade have proved to have resilience to political turmoil and have begun to
Sindh govt taxes Pak-Afghan Transit Trade
KARACHI - For the first time Sindh government has imposed tax on the goods to be traded under the recently signed Pak-Afghan Transit Trade Agreement, it has been reliably learnt. The new levy will be collected at the rate of 0.5 percent of the value of the consignment as the Infrastructure Cess, to be charged on the export/imports of PATTA goods from Karachi by air or by sea, well-placed sources told Pakistan Today.
Previously, the consignment of goods traded under the Pak-Afghan
Previously, the consignment of goods traded under the Pak-Afghan
Impact of new trade rules under the scope
KARACHI - The International Multimodal Transport Association (IMMTA) is going to hold a conference on "The Impact of the Rotterdam Rules on International Trade of Pakistan" on March 29, 2011.
The new UN Convention on Contracts for the International Carriage of Goods Wholly or Partly be Sea, known as the 'Rotterdam Rules' which had been prepared under the auspices of United Nations Commission on International Trade Law (UNCITRAL), after several years of deliberations, was adopted
The new UN Convention on Contracts for the International Carriage of Goods Wholly or Partly be Sea, known as the 'Rotterdam Rules' which had been prepared under the auspices of United Nations Commission on International Trade Law (UNCITRAL), after several years of deliberations, was adopted
Pakistan will participate in UK trade fair
LONDON - Ten leading Pakistani business houses are participating in the "Spring Fair International 2011" being organised in Birmingham and to be held from February 6-10. Pakistan High Commission along with Trade Development Authority of Pakistan (TDAP) has organised participation of Pakistani exporters at the trade exhibition.
After successful participation at these fairs in 2009 and 2010, this is the third time in a row that Pakistan is taking part in this grand event held
After successful participation at these fairs in 2009 and 2010, this is the third time in a row that Pakistan is taking part in this grand event held
Hundreds rally against drug trade
FAISALABAD - Hundreds of protesters thronged one of the busiest highways of the city to condemn the flourishing drug trade in their area and the poor performance of the local police.
The residents of Gokhuwal village, led by Masood Cheema, gathered at Millat Road. They blocked the incoming and outgoing traffic by burning tyres and staging a sit-in. The protesters alleged the Millat Town police were sheltering drug dealers. They lamented dozens of youth had become addicts owing
The residents of Gokhuwal village, led by Masood Cheema, gathered at Millat Road. They blocked the incoming and outgoing traffic by burning tyres and staging a sit-in. The protesters alleged the Millat Town police were sheltering drug dealers. They lamented dozens of youth had become addicts owing
US assures Pakistan of supporting EU trade concessions from WTO
ISLAMABAD - The US has assured Pakistan of playing its due role in the approval of the European Union trade concessions from the next meeting of the World Trade Organisation (WTO). An official source said Senior Adviser to US President on Economy David Lipton gave the assurance at a meeting with officials of the Commerce Ministry on Friday.
"We were asked to provide names of countries that were creating hurdles in the implementation of the concessions and we were assured that the
"We were asked to provide names of countries that were creating hurdles in the implementation of the concessions and we were assured that the
Pak-China trade jumps to $8.7 billion
BEIJING - Bilateral trade of Pakistan and China has registered an overall growth of 28 percent, touching $8.7 billion in 2010 compared to a volume of $6.7 billion in 2009. Pakistan's Ambassador to China Masood Khan, while welcoming the increase in trade volume, said that remarkable growth was seen in exports which increased by 37.44 percent; while imports from China also grew by 25 percent.
The Ambassador attributed growth in Pakistani exports to the enhanced market of cotton
The Ambassador attributed growth in Pakistani exports to the enhanced market of cotton
Swiss ambassador puts weight behind enhanced trade relations
LAHORE - Swiss Ambassador to Pakistan Christoph Bubb has said that his government is committed to further strengthen Pakistan-Switzerland trade relations. The Swiss ambassador was speaking at Lahore Chamber of Commerce and Industry on Friday. LCCI President Shahzad Ali Malik, Senior Vice President Sheikh Mohammad Arshad and Vice President Sohail Azhar also spoke on the occasion.
The ambassador was of the view that the Swiss business community was quite impressed by the potential
The ambassador was of the view that the Swiss business community was quite impressed by the potential
KCCI, KSE propose joint platform for trade listing
KARACHI - The Karachi Chamber of Commerce and Industry (KCCI) and Karachi Stock Exchange (KSE) have agreed to set up a joint platform and outline a concrete line of action to encourage the business community and traders to participate in trade listings and stocks.
At a time when the economy is facing hard times and with the cost of manufacturing and operation increasing with alarming frequency, the joint platform is seen as a farsighted exercise which will work towards the
At a time when the economy is facing hard times and with the cost of manufacturing and operation increasing with alarming frequency, the joint platform is seen as a farsighted exercise which will work towards the
MoC fails to implement Strategic Trade Policy
KARACHI - Though over two years of the announced three-year 'Strategic Trade Policy 2009-12' have passed, the Ministry of Commerce (MoC) is yet to implement most of its trade initiatives. The ministry had announced that it would undertake various steps, as per the Strategic Trade Policy Framework (STPF), in order to address economic challenges faced by Pakistan.
According to sources, the ministry was unable to initiate almost 12 new projects, for which around Rs 4.0 billion had
According to sources, the ministry was unable to initiate almost 12 new projects, for which around Rs 4.0 billion had
Pakistan-Iran border opens for local trade
QUETTA - Iranian authorities opened the mutual trade gate Zero-Point situated at Pakistan-Iran border for trade on Wednesday after about six months. After a suicide attack on a mosque in Zahidan city that left dozens injured and killed, Iranian authorities closed the trade gate, Zero-Point, for all types of trades on July 15, 2010 that caused great problems for the people living on both sides of the border by suspending the supply of eatable items.
The closure not only affected
The closure not only affected
Rice trade in 2011 expected to contract by two percent
LAHORE - The United Nation's Food and Agriculture Organisation (FAO) has forecast that the world rice trade in 2011 will contract by two percent to 30.5 million tonnes. The FAO latest Rice Market Monitor (RMM) states that the reduction in global rice trade is expected to follow a tightening of exportable quantities in major rice supplying countries.
It concludes that several rice exporting countries had reduced harvests owing to harsh weather conditions, while some have heavily
It concludes that several rice exporting countries had reduced harvests owing to harsh weather conditions, while some have heavily
Trade delegation to explore Japanese textile market
KARACHI - A delegation of Pakistani textile exporters is set to depart for Japan to evaluate the potentially lucrative market. A Pakistani mission in collaboration with Japan External Trade Organisation (JETRO) and Japan International Cooperation Agency (JICA) would assess the market in the foreign country.
This was stated by Trade Development Authority of Pakistan (TDAP) Chief Executive Tariq Iqbal Puri, while speaking to media personnel after communicating with Lahore based
This was stated by Trade Development Authority of Pakistan (TDAP) Chief Executive Tariq Iqbal Puri, while speaking to media personnel after communicating with Lahore based
