Bilateral trade, investment: NITMA team arrives to negotiate with Aptma

A 13-member delegation of Northern India Textile Mills Association (NITMA) crosses Wagha border to negotiate possibilities of bilateral trade and investment opportunities with All Pakistan Textile Mills Association (APTMA). Federal Textile Minister Makhdoom Shahab-ud-Din was among those who welcomed the NITMA delegation along with Chairman APTMA Mohsin Aziz and Group leader of ruling group at APTMA Gohar Ejaz.
Addressing at the welcoming ceremony at the APTMA Punjab office, Chairman APTMA Mohsin Aziz said the two countries have many things in common but still they are far away due to political reasons. He expressed the hope that mutual co-operation would bring success and stressed more meetings ahead. President Makund Chaudhry said the NITMA delegation is here to make friends. It is the only agenda we have," he said, adding: "We want to develop relations not only on commercial but on personal fronts."
Both sides invite each other on weddings of their children, he said. According to him, the region was producing half of world cotton but its share in the world market was merely 5 percent, which is shameful.
He said both Pakistan and India can work to benefit from each other and both associations can build a strong platform to grow. He suggested APTMA to sign Memorandum of Understanding (MoU) on yearly rotation of delegations from both side and holding of videoconferences on quarterly basis. The APTMA group leader Gohar Ejaz termed it a great day for Pakistan textile industry. He said the APTMA has taken initiative of inviting NITMA ahead of finalisation of MFN status to India. He introduced APTMA to the Indian delegation. Gohar appreciated the Federal Textile Minister for ensuring free market mechanism in Pakistan.
He also appreciated President Asif Ali Zardari for listening to APTMA. He said both the countries have great potential to grow and mentioned that the interest rate in Pakistan was in double digit against 9.75 percent interest rate in India. Federal Textile Minister Makhdoom Shahab-ud-Din said Pakistan would extend full co-operation to the activities of APTMA and NITMA.
He said there is need to remove certain barriers in bilateral trade and both sides put their heads together and work out something for mutual benefit. He said the best trade could be between neighbours world over despite political irritants. However, he added, the businessmen should have different interests and they should leave the political irritants to politicians. Responding to media, he said the delegation was here to pin down irritants and ensure free market policy.