20000208

IDB team discusses

scope of financing

with SBP, EPB

RECORDER REPORT

KARACHI: The Islamic Development Bank's trade financing mission is currently visiting Pakistan to discuss issues related to the promotion of trade and utilisation of the Bank's financing facility.

The two-member team comprises Salem Amaran Jamiaan, deputy director and Moin-ud-Din of the Trade Finance Promotion department of the bank. The mission members held meetings with the State Bank of Pakistan. They also met representatives of Pak Kuwait Investment Company , Pak. Libya Holding Company and Faisal Investment Bank.

The IDB mission called on S. M. Rizvi, vice chairman of the Export Promotion Bureau on Monday and discussed with him possibility of utilising bank's financing facility for exports.

Rizvi welcomed the mission and said that the Pakistani exporters would be happy to utilise trade financing facility offered by IDB. He briefed the mission on the efforts Pakistan government specially the ministry of commerce was making to promote trade among the Islamic countries.

The EPB vice chairman specially informed the mission about the efforts Pakistan was making to develop trade with Iraq and to assist the sisterly Muslim country in re habilitating its industries in the fields of cement, fertiliser, power generation and allied industries.

It was noted at the meeting that the export trade among the OIC members was negligible although Pakistan could sell good quality textile products, rice, cement, sugar and fruits and vegetables and engineering goods to Islamic countries.

The IDB mission said that the objective of the trade financing facility to the members of OIC was to increase trade exchanges and to encourage exports among them.

The IDB team before leaving for Islamabad will also meet leading exporters at the EPB on Tuesday.