TOP Stories in the K.C.A News Section

Thursday, 13 October 2016

Mr. Jean-Marc Derossis, President and Mr. Kai Hughes, Managing Director of International Cotton Association visited the KCA and held a meeting with the Executive Committee and senior members of the Cotton Trade to discuss matters relating to safe business practices, trade and arbitration etc.

Khawaja Tahir Mahmood, Chairman, the KCA presented the address of welcome and thanked the worthy President and Managing Director of the ICA for visiting the KCA despite their busy schedule in Karachi and highlighted the role and function of the KCA in regulating cotton marketing and trading.

Khawaja Tahir Mahmood, Chairman, the KCA introduced the Executive Committee and senior members of the KCA to the ICA leadership and said that Mr. Jean-Marc Derossis, President has a long attachment to the ICA and is a matured businessman, having more than 17 years industry experience.

He further explained that now a days, the majority of the world's cotton was traded under ICA Bylaws & Rules. The rules had changed with time, but their aims were remained the same that was to create a safe trading environment.

Chairman, the KCA said that it was a unique occasion for the KCA that the leadership of the ICA had provided an opportunity to cotton traders of Pakistan through holding of Workshops with the collaboration of the KCA and delivered lectures on “Avoidance and Settlement of Cotton Disputes” so that local cotton community be benefitted.

Chairman explained that China, India and Pakistan produce 60 percent of world crop and consume about 65 percent and said that we are experiencing and expecting further expansion in spinning sector at least in India and Pakistan. A very large percentage of the global cotton economy is concentrated in these three countries.

Chairman also briefed about the development in Textile industry of Pakistan and said that the share of textile industry in the economy along with its contribution to exports, employment, foreign exchange earnings, investment and value added makes it the single largest manufacturing sector of Pakistan. The availability of cotton, the basic raw material for textile industry has played a pivotal role in the growth of the industry and economy in Pakistan.

Mr. Jean-Marc Derossis, President, the ICA briefed about the activities and initiatives taken by them to promote and explore avenues for strengthening relationship between the two Associations in trade and arbitration in the world.

Mr. Kai Hughes, Managing Director, ICA also briefed about purpose of visiting Pakistan, development taking place in the global world, the cotton trading, arbitration and membership of the ICA etc.

Chairman, KCA specially thanked Mr. Derek Tanner, Ex-President, ICA for imparting trainings and conducting workshops consecutive for two days on 26.01.2016 and 27.01.2016 at Marriott Hotel, Karachi on “Avoidance and Settlement of Cotton Disputes”. More than 50 delegates participated in the said Workshop. These workshops were unique in the history of Pakistan. The ICA leadership with the collaboration of the KCA has arranged these workshops in Karachi. The KCA also hosted a Dinner in honor of ICA delegation in Karachi. The Executive Committee and senior members of the trade joined the occasion.



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