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Related Keywords: cotton, Forex, in foreign exchange, LCCI, MAN, market price, materials harvested, NTMA, payment demanded, produced domestically, raw material for production, sold at prevailing international market prices, textile manufacturer, Textile raw materials in Nigeria

Textile raw materials in Nigeria are being sold at prevailing international market prices and payment being demanded in foreign exchange even as the materials are being harvested and produced domestically.

The Federal Government’s efforts at diversifying the economy and reducing dependence on importation are being undermined by value-chain operators, farmers and providers of key raw materials who would rather export raw commodities for foreign exchange than sell to local producers at market prices.

Related Keywords: bring down cost of doing business, investment and joint venture opportunities, LCCI, midst of talks on FTA. expected sign by the end of this year, remove non-tariff barriers, rise in bilateral trade, textile sectors of Pakistan, Thai companies keen to start operations, Thailand and Pakistan, Thailand to explore trade, trade would flourish

Thailand’s Ambassador Suchart Liengsaengthong disclosed at a meeting with Lahore Chamber of Commerce and Industry (LCCI) Vice President Nasir Saeed at the chamber on Monday that the two countries, Thailand and Pakistan are in the midst of talks on a Free Trade Agreement (FTA) which is expected to be signed by the end of this year.

Related Keywords: cover sectors of Ready Wear, day by day changing global trends, gateway to Europe, global trade fairs, Home Textile and related machinery, interact with Turkish businessmen, LCCI, leather, Pak Turk Businessmen Association, Pakistani businessmen interested to enter EU market, Textile, Turkey fastest growing economies, World Trade Bridge

Turkey is not only a gateway to Europe but also one of the fastest growing economies thus it offers a lot to Pakistani businessmen interested to enter EU market. At a seminar on ”24th Turkey – World Trade Bridge 2015” jointly organized by the Lahore Chamber of Commerce and Industry (LCCI) and Pak Turk Businessmen Association here at the LCCI on Tuesday, the Pakistani entrepreneurs were urged to participate in the global trade fairs and exhibitions like 24th Turkey World Trade Bridge 2015.

Related Keywords: All Pakistan Textile Mills Association, bring down inflation rate, interest rate cut, LCCI, longstanding demand, Pakistan textile industry, State Bank of Pakistan, stimulate private sector growth

The longstanding demand of the Lahore Chamber of Commerce and Industry (LCCI) that the mark-up rate should be at the lowest to provide some breathing space to industries has been taken care of with the State Bank of Pakistan’s (SBP) decision to cut the interest rate by 100 basis points – from 9.5% to 8.5% which will not only help stimulate private sector growth but also bring down the inflation rate according to them.