960417

Jordan to seek

Pak expertise

to promote its

textile sector

RECORDER REPORT

KARACHI: Jordan is interested in seeking expertise and know-how from Pakistan to promote its textile sector.

This was stated by Ghazi Kawar, Board member, Amman Chamber of Commerce at a reception hosted by the Liaison Office, Federation of Pakistan Chambers of Commerce & Industry (FPCCI) in Islamabad. He said that there are opportunities for joint ventures in textile & medical fields and suggested establishment of a shareholding company between Pakistan and Jordan with fifty percent shares for each. He said that Jordan is free market country and offers excellent opportunities for foreign investment. He emphasised on the communication and exchange of delegations between the private sectors of both the countries to avail the opportunities.

Earlier, Tariq Sadiq, Member Managing Committee of FPCCI, said that weightage of trade has all along remained in favour of Jordan which can be attributed mainly to bulk import of rock phosphate by the fertilizer industry in Pakistan. Pakistan's exports to Jordan indicated a sharp increase from $5.11 million in 1993-94 to $15.9 million in 1994-95, which is quite reassuring. On the contrary, imports from Jordan decreased from $33.44 million to $16 million during the same period.