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Trade

China export growth slows in November: customs data

China's export growth slowed last month weighed down by slowing global demand and trade tensions with the United States, official data released Saturday showed. Exports rose 5.4 percent for November on-year, short of the 9.4 percent forecast by Bloomberg News, while imports rose 3.0 percent on-year, also below the forecast, according to customs administration data. China's overall trade -- what it buys and sells with all countries -- logged a $44.7 billion surplus in November, up from $35 billion the previous month,…

French investors enthusiastic to invest in Pakistan’s various sectors

ISLAMABAD: French investors shows enthusiasm to invest and discover potential for investment in various sectors in Pakistan, expressed by French Ambassador Marc Barety France in a meeting with Acting Chairman Senate Senator Saleem Mandviwala on Wednesday. The meeting includes detailed discussion of trade requirements which needs expansion in order to boost the current trade quantity which is not up to mark. Saleem Mandviwala said that, trade presents enhanced prospects which enables to bring the people of both the…

Pakistan signs MoU with Italy to elevate economic and trade associations

ISLAMABAD: Pakistan and Italy inked a Memorandum of Understanding (MoU) on Tuesday for boosting economic and trade associations in various sectors. Mohammad Younus Dhaga, Federal Secretary for Commerce while addressing as chief guest at the MoU signing ceremony between ICE, Italian Trade Agency & Trade Development Authority of Pakistan (TDAP) stated that, both countries have mutually decided to enlarge the association in the sectors of infrastructure, construction, energy, logistics, transport, telecoms, water,…

UAE and India sign 35 billion rupees currency swap agreement

ABU DHABI: India and the United Arab Emirates on Tuesday signed a currency swap agreement to boost investment and enable direct trade without using dollars or other international currencies. The swap is for 2 billion dirhams or 35 billion Indian rupees ($496 million), depending on which central bank requests the amount, an Indian embassy statement said. “The bilateral currency swap agreement between India and the UAE is expected to reduce the dependency on hard currencies like the U.S dollar,” the statement said,…

FM stresses for boosting trade, economic ties amongst regional countries

ISLAMABAD: Foreign Minister Shah Mahmood Qureshi on Tuesday stressed for bolstering trade and economic relations amongst the regional countries. Addressing a ceremony in connection with Economic Cooperation Organization (ECO) Day in Islamabad, he said the goal could be achieved by improving connectivity through rail, roads, ports and use of latest technology. Highlighting the significance of the ECO, Shah Mahmood Qureshi said the organisation gave great importance to the objectives of regional peace and development. He…

IMF warns trade tensions have worse hit to global economy

WASHINGTON: The impact of escalating trade tensions on global growth are worse than feared just one month ago, and threatened US auto tariffs could cut a large chunk out of the world economy, the IMF said Wednesday. Just last month, the International Monetary Fund warned of the dangers of the trade frictions -- notably between the United States and China, which have exchanged tariffs on hundreds of billions in products. But IMF chief Christine Lagarde said those headwinds "could have slowed momentum even more than we…

RCCI inks MOU with Greek- Pakistan Chamber of Commerce (GPCCI)

RAWALPINDI: A memorandum of understanding (MOU) was inked between Rawalpindi Chamber of Commerce and Industry (RCCI) and Greek- Pakistan Chamber of Commerce (GPCCI) on Tuesday, in order to encourage bilateral trade relations and to jointly assist the business segments of both the countries. President GPCCI Maria Rubina Markopoulou on this instance highlighted RCCI’s endeavors, which consist of assisting traders and supporting trade activities within the country. She stated that, this MOU would provide a basis for…

Foreign diplomats shows interest in escalating trade activities with Pakistan

LAHORE: Pakistan can benefit in many ways due to its most exceptional geographical locations, which makes Pakistan a major entrance to the power & energy affluent Central Asian Republics while sharing borders with economic giants such as China, stated the Lahore Chamber of Commerce and Industry (LCCI) President Almas Hyder. LCCI president, Hyder also emphasized on the fact while addressing a 27-member delegation, including foreign diplomats from West Africa, Azerbaijan, Iraq and many other countries, that Pakistan…

Indonesia confirms Pakistan trade agreement to protect palm oil exports

JAKARTA: The Indonesian government is geared up to confirm a trade deal with Pakistan in order to protect $1.5 billion in annual palm oil exports to the South Asia region, a cabinet minister stated. According to Abdul Rasheed JanMohammed, chairman of Pakistan Edible Oil Refiners Association,  Indonesia is termed as the world’s major palm oil producer, and considered as a leading exporter to Pakistan, but still it has been losing its market value to Malaysia, which is on the second number in the world. Indonesia’s…

Pakistan & Brazil prepared for rapid bilateral trade: Brazilian CG

KARACHI: The trade activities between Pakistan and Brazil had picked up speed, but somewhat few vital steps are still required in order to further strengthen the relationship between the two countries, in particular,  the business sector of Karachi and Brazil, stated the Honarary Consul of Brazil Omer Jaffer. According to the sources, it is revealed on Wednesday, during a meeting of Omer Jaffar in his visit to Karachi Chamber of Commerce and Industry (KCCI), the Brazilian diplomat appealed Karachi Chamber to support for…