Cotton Association of India Offers Help to Pakistani Buyers .

KARACHI: Cotton Association of India has offered to play role of mediator between Pakistan cotton buyers and Indian sellers.

In this regards, Dr Mirza Ikhtiar Baig, Advisor to Prime Minister on Textiles accompanied by Vice Chairman APTMA Yasin Siddik, met President of Cotton Association of India, Dhiren Sheth in Karachi on Wednesday and discussed the issue of non delivery of the Indian cotton purchased by Pakistani millers.

Sheth proposed to urgently send delegation of importers of cotton from Pakistan to India and Cotton Association of India would arrange a meeting with the Indian cotton exporters to amicably settle the issue. He also agreed to devise a mechanism for future cotton trade between the two countries.

Baig proposed that any dispute between sellers and buyers may go for arbitration process through Karachi Cotton Association and Indian Cotton Association.

The present system of arbitration takes many years to decide a dispute due to which the buyers and the sellers are not using arbitration to resolve their disputes. It was proposed to limit maximum period of 3 months to finalize the trade dispute through arbitration.

Baig is leaving for Delhi to meet Federal Secretary Commerce, Government of India for allocation of additional quantity of cotton for export to Pakistan out of their surplus of two million bales to fulfil the commitment of the Indian exporters.

Source : thenews.com.pk