LAHORE: All Pakistan Textile Mills Association (Aptma) Chairman APTMA S M Tanveer has met International Cotton Association (ICA) President Jordan Lee and told him that the Rule 219 of the ICA is consisting of partial trading rules, which are badly affecting local textile industry, especially of import of cotton from India.
Tanveer also discussed issues being faced by the Aptma members relating to shipment delays, quality assurance and defaulters in the ICA list. He asked the Jordan Lee-led delegation to improve liaison with Aptma to resolve the issues on cotton trade. He said awareness on the ICA rules and regulations and training of the cotton importers was an urgent need of the hour.
The Aptma chairman suggested signing up of a Memorandum of Understanding (MoU) by both sides to create awareness and impart training to Aptma members on cotton trade. He also urged to initiate process of facilitation and mediation for resolving long outstanding issues concerning default of some member mills on ICA counters. He said the proposed expansion of cotton trade in the region can only be made possible through such initiatives.
The APTMA members showed keen interest in ICA rules and pledged to avail benefit from facilitation and mediation efforts of the two associations for safe trading environment.
International Cotton Association (ICA) President Jordan Lee said Pakistan was very important market for the ICA. He said he has visited APTMA to discuss the issues, including the specific ones, faced by the APTMA members in cotton trade.
He said Pakistan is an important country in terms of cotton trade in future and it is therefore imperative to discuss and resolve the pertaining issues. He also invited APTMA members to attend the annual dinner of ICA at San Francisco in coming October.
