China dismisses Pak industries' concerns over cheap imports
PTI China on Friday dismissed as "unnecessary" the concerns of Pakistani businesses over the possibility of local markets getting flooded with cheap Chinese goods due to tax exemption under the CPEC project, marginalising local industries. "As for the specifics, I am not aware of them, but I think your concerns are unnecessary," Chinese foreign ministry spokesperson Hua Chunying said. Pakistani companies have expressed concerns over Chinese suppliers, who will get heavy tax exemptions, may flood local markets with cheap Chinese goods when the trade route under the USD 46 billion China-Pakistan Economic Corridor opens. Playing down such concerns, Hua said the CPEC, part of Beijing's Silk Road project, is a new cooperation framework set by China and Pakistan ...
Pak farmers demand curbs on agri, food imports from India
Sai Nikesh D | The Dollar Business Pakistan farmer organisations have held a rally in Lahore this week, opposing the import policy of agri and food products from India which has led to a surge in agri and food imports from India in recent years. According to sources in Pakistan, all major farmers’ associations — Kissan Board Pakistan, Farmers Associates Pakistan, Kissan Ittehad, Awane Zaraat, Sindh Tas Water Council, and Punjab Water Council – have come together to demand the withdrawal of the March 2012 statutory notification which allowed duty-free import of 137 items through Wagah border. Pakistani farmers say that the Wagah border is close to India’s Punjab, which is considered the food bowl of India, and ...
Indias cotton exports forecast to decline 35% in MY2014-15
The Dollar Business Bureau | @TheDollarBiz After rising by almost 19% y-o-y in MY2013-14, India’s cotton (raw) exports are expected to decline sharply by almost 35% this year, mainly due to lower demand in China. According to the USDA Post in New Delhi, India’s cotton exports in the marketing year beginning August 2014 are forecast to decline to 1.3 million tonnes (around 6 million 480 lb bales), which is down about 34.8% from an estimated 2 million tonnes (around 9.2 million 480 lb bales) exported in MY2013-14. India is the world’s largest cotton producer (about 6.7 million tonnes) and the second largest exporter of cotton. India’s cotton exports have grown in the last few years, in tandem with growth in China’s imports. ...
