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Exporters urged to learn international commercial terms

RECORDER REPORT

FAISALABAD: Syed Wajid Ali, Director, Export Promotion Bureau (EPB), Faisalabad, has asked exporters to equip themselves with the new international commercial terms to continue to play their dynamic role in the global export markets.

He was addressing a one-day seminar here on 'Incoterm-2000' organised by the EPB in collaboration with Institute of Banking Finance and Management, Karachi.

He said that new international commercial terms have been effective from January, 2000 all over the world and Pakistani exporters should also assimilate the same in their correspondence with their foreign buyers as well as other related organisations.

Mohammad Saleem Omer, Director, IFM, delivered a comprehensive lecture on the subject and said that the basic objective of the seminar was to enable its participants to fully understand the international trade scenario by understanding regulatory framework, ICC (International Chamber of Commerce) rules of conduct and processing export documents.

Highlighting the need and justification of standard business terms, he said that these will help make international business more easy and understandable. In this regard, he also explained the origin of 'Incoterm', its utility, misconceptions, limitations and reporting mechanisms etc.

Chaudhry Mohammad Ali, Director, EPB, Faisalabad, thanked Mohammad Saleem Omar for his informative lecture and asked the participants to cooperate with EPB in giving impetus to the national exports. He also assured full cooperation to the exporters on behalf of the EPB in giving necessary help and guidance in understanding and implementing international commercial terms.

Later, certificates were distributed among the participants of the seminar.