DCCI seeks support to fight challenges posed by WTO
BY M.A.QUDOOS | 24 May 2004
DUBAI - Obaid Humaid Al Tayer, president of Dubai Chamber of Commerce and industry, has warned that the states of the region will be dominated by the western world, as per the WTO agreement signed by them, if they failed to face the new challenges of the WTO era.
Addressing the inaugural general body meeting of the Pakistan Business Council Dubai on Saturday, which he presided, Tayer said, "The game we have to play with the western world is not an easy game. We have to keep in mind the consequences of the WTO agreement."
He invited the support of the business councils and the business groups established under the umbrella of the DCCI to face the challenges posed by the WTO. In the past 18 months the number of business councils has increased from 14 to 23 and will further increase to 25 in a couple of months.
He said that the chamber was encouraging their establishment in different communities to receive feedback. "The formation of the Pakistan Business Council is an important step towards strengthening relations within the community, to start with," he said.
"We want the business councils to share their individual and common concerns with the chamber which can act as a conduit between the councils and the government to address their concerns," Tayer said.
Tariq Iqbal Poori, vice chairman of Pakistan's Export Promotion Bureau (EPB), who flew in to attend the meeting, said that investments from Dubai in Pakistan ranked second after investments from the UK. "Investments from Dubai can help Pakistan as, under the WTO, textile quotas will be lifted from Pakistan on January 1, 2005, and the full potential of its textile trade would be brought forward. Textiles form 68 per cent of Pakistan's exports.
He hoped that the PBC will play an effective role in further boosting trade between Dubai and Pakistan.
Pakistan's exports in 10 months, July-April 2003-04 fiscal, were over $10 billion or 2.31 per cent above the target, and are projected at $12.5 billion for the complete fiscal year, he said. He said that exports to Dubai crossed $1billion while imports from Dubai were $1.5 billion.
Kamran Khan, chairman of foreign relations committee of the Federation of Pakistan Chambers of Commerce and Industry, who also flew in to attend the meeting, said that with the impetus of the PBC, the trade can be expected to increase further in the coming years.
Tanvir Khwaja, member of the board of directors and president of the PBC, thanked the chamber for its support for having a proper and professional wing for the Pakistani businessmen.
He said that the PBC planned to hold meetings with the officials of the EPB and other Pakistan government sectors, arrange special lectures on new and prosperous ventures in Pakistan, hold seminars and workshops on use of modern technology in business, and to have a property investment presentation by Al Nakheel next month.
The meeting was attended among others by Ahmed Al Banna, deputy director general of the DCCI, diplomats and representatives of other business councils. |
