LAHORE – The Karachi and Lahore chambers of commerce and industries will jointly work for the promotion of regional trade and for the activation of Pakistan’s FTAs/PTAs with other nations. Pakistan’s trade deficit for the fiscal year 2013/14 was $7.743 billion, exports were $10.367 billion in (July–November 2013) and imports were $18.110 billion.
A meeting between LCCI Senior Vice President Mian Nauman Kabir and KCCI Senior Vice President Muhammad Ibrahim Kasumbi was held at Lahore where both the chambers also agreed to share their respective latest research reports for the common good of the business community.
The LCCI president on the occasion said that the strength of the private sector lies in unity therefore they should extend full support to each other on all economic issues and challenges.
Mian Nauman Kabir added that the LCCI had already taken a number of steps to educate its members on GSP Plus to enable them to get maximum benefit out of this great opportunity.
On 12 December 2013, European Union granted GSP Plus status to Pakistan till 2017, which enabled it to export 20% of its good with 0 tariff and 70 percent at preferential rates to EU Market. The status was given after the European Parliament passed the resolution by 406-186 votes. Pakistan’s trade deficit for the fiscal year 2013/14 was $7.743 billion, exports were $10.367 billion in (July–November 2013) and imports were $18.110 billion.
Briefing about the LCCI Mediation Center, Mian Nauman Kabir said that the Mediation Center was established with active collaboration of IFC which was inaugurated in August 2012.
