India Pakistan Trade Unit
News
Latest Country News
India
Elite confronts crisis of Western capitalism
The World Economic Forum's (WEF's) five-day annual meeting began on Wednesday with top business and political leaders from across the world in attendance, amid a gloomy global economic scenario.
Leaders were confronted with the fear that the Western model of capitalism has failed and is about to be shoved aside by emerging powers. "I think we have three to four years in the West to improve the economic model that we have, and if we don't do that soon I think we've lost the game," warned David Rubenstein, managing director, Carlyle investment fund.
Sharan Burrow, general secretary, International Trade Union Confederation, urged corporations and governments to work with workers to develop a new economic model.
On the same panel, Professor Raghuram Rajan of University of Chicago, warned the 20th century strength of the western economy had already failed to live up to its promises to rich world workers. "Governments made a ton of promises in the 1960s, when growth was very high. We had the welfare state across the industrial world.
And then growth started falling off in the 70s, in the 80s."
For Ben Verwaayen, chief executive of French telecom giant Alcatel-Lucent, the citizens and consumers of the West are in for a rude awakening. "The consumer goes to the grocery shop and buys globalisation and then he leaves the shop with his two bags full of globalisation and turns to the government and says: 'Protect me from the results of this'."
Some 40 heads of government will join the titans of commerce and industry in Davos to discuss everything from the eurozone crisis to Iran's nuclear programme as well as trends in science and the arts.
Source: The Hindustan Times
Pakistan
Germany keen to invest
Germany keen to invest
Germany is the largest trade partner of Pakistan among European Union (EU) and trade volume between the two countries is 2.3 billion Euros per year.
Pakistan having population of more than 189 million could be the best trade market for Germans to invest in the country. Germany is keen to invest in the country but Pakistan must have to concentrate on good governess in the country, said German Ambassador to Pakistan Dr Michael Koch during his visit to the Rawalpindi Chamber of Commerce and Industry (RCCI) here on Wednesday.
RCCI President Jawed Akhtar Bhatti, Senior Vice President Raja Amer Iqbal, Vice President Ch Iqbal Ahmed, former President Najamul Haq Malik, member executive committee and other members of the Chamber were also present on the occasion. He said that deteriorating law and order situation of the country affecting the economic uplift in the country. He was of the view that security situation is not that much bad which is being projected in the Western media. “Business community of Pakistan can play proactive role to build a positive image of the country in the world”, he said.
Ambassador said that Germany is willing to offer her utmost assistance in every sector in which Pakistan is lacking behind. He said that RCCI would be given vast space in Pakistan-German Business council. He ensured his full cooperation to the President RCCI in this regard.
Speaking on the occasion President RCCI said that Rawalpindi Chamber is fully aware of the significance of enhancing trade relation among all the countries and to achieve the said purpose RCCI is organising 10 single Country Expos including Germany this year. He also informed the guest that RCCI trade delegation is participating in trade Expo Usetec in Cologne, Germany. Jawed Bhatti said that it is need of the hour to promote trade relations between the two countries.
Source: The Nation
Sri Lanka
Sri Lanka in talks with Qatar for toll expressway, resorts: economic minister
The State of Qatar is in talks with Sri Lanka to build a toll expressway from the island's main international airport to the northwestern coastal town on Kalpitiya, economic development minister Basil Rajapaksa said.
Sri Lanka has signed up with Qatar Holdings, the emirate's sovereign wealth fund and its wholly owned unit Qatar Diar Real Estate Investment Company following visit by Qatari ruler, Sheikh Hamad Bin Khalifa Al Thani earlier in January.
Qatar has proposed a large tourism development complex involving seven islets off the coast of Kalpitiya.
"There has to be a feasibility study to find the viability of the expressway," minister Rajapaksa said.
"They say is tourists are not always willing to travel in small planes.
"An expressway will take tourists from the airport in 20 to 30 minutes. So they said if we invest in the islands, we will also invest in the toll road."
Qatar had also looked at land in Colombo, including land in the Galle Face beachfront, minister Rajapaksa said.
Two blocks in the area has also been sold to Hong Kong based Shangri La and the second block is to be given shortly to India's ITC group.
Sri Lanka is experiencing a tourism boom after a 30-year war in 2009. In 2011 arrivals rose 30 percent to 855,000.
Sri Lanka opened its first expressway to Galle in the south late last year. Officials say hotel occupancy is already up in the region after travel time was cut.
Source: Lanka Business Online
Bangladesh
Knitwear exporters hit tokyo focus
A knitwear exposition of Bangladeshi exporters began yesterday in Tokyo to grab more market share of knitwear products in Japan. A total of 32 knitwear makers from Bangladesh are participating in the show at the Big Sight fashion exhibition venue. The fair will continue till January 27, the organisers said.
Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) has organised their annual event at the largest fashion exhibition -- Japan Fashion Wear (JFW) and International Fashion Fair (IFF).
Garment makers from different other countries are also attending the JFW-IFF, which is the biggest fashion related gathering in Japan.
The knitwear makers are eyeing to export $2 billion knitwear products a year to Japan within the next five years. Japan is a $12 billion knitwear market, while the total apparel market size of the country is $25 billion a year.
Holding such a fair in Japan is part of the aggressive marketing drive of the knitwear makers, the BKMEA leaders said at the inauguration of the fair.
Bangladesh's Commerce Minister GM Quader opened the show as the chief guest.
The knitwear makers are holding the expo outside the country for the first time considering Japan as an emerging market for them.
The apparel makers said their import to Japan has been maintaining higher growth since 2008 when the Japanese government adopted a “China plus” trade policy to reduce its dependence on the country for outsourcing garments and other items.
Bangladesh exported knitwear products worth $138.48 million during January-November of 2011, registering a 115.28 percent growth, compared to the same period a year ago.
“We are exploring the potential of the Japanese market to brand Bangladesh in this market,” said Quader. The knitwear export to Japan is increasing also due to the relaxation in the Rules of Origin (RoO) under the GSP (Generalised System of Preferences) by the Japanese government since April last year, he said.
“We can offer quality garment products to the Japanese customers at competitive prices, while the China is losing its market in Japan due to a change in trade policies,” he said.
Hatem Ali, acting president of BKMEA, termed the event as historic, saying, garment exports to Japan will increase further under the GSP.
He said Bangladesh is currently supplying garment items to almost all renowned global brands.
“So, the garment makers of Bangladesh can also supply to the quality-conscious Japanese customers,” he said.
Shubhashish Bose, vice-chairman of Export Promotion Bureau (EPB) of Bangladesh, said: “We want to diversify both the markets and products.”
“We will hold the next fair in Russia in May this year, as this is also a potential market for Bangladesh,” said Aslam Sunny, vice-president of the BKMEA.
He said the knitwear makers have targeted some new markets such as Russia, South Africa, Brazil, Mexico, China and India besides the traditional markets of the EU and US.
Source: Daily Star
Last Updated: 26/12/2012
Top of page  | 
