SIGNING OF MEMORANDUM OF UNDERSTANDING (MOU) BETWEEN FPCCI AND BCI TO IMPROVE THE QUALITY OF EXPORTABLE COTTON PRODUCT FOR ENHANCEMENT OF FOREIGN EXCHANGE OF THE COUNTRY

-.
Islamabad (PR). The Federation of Pakistan Chambers of Commerce & Industry
(FPCCI) and Better Cotton Initiative Pakistan have signed a Memorandum of
Understanding (MoU) to establish long-term, sustainable and mutually beneficial
cooperation in areas of bilateral interest for promoting research, industrial
linkages, trainings, education and employment opportunities between the two
institutions.
The MoU was signed by President FPCCI, Mr. Atif Ikram Sheik and Country
Director Better Cotton Initiative (BCI) Ms Hina Fouzia during the event at
Islamabad. The MOU was signed as a witness by Ms. Quratul Ain Vice President
FPCCI and Mr. Muhammad Shuaib, Manager, Supply Chain BCI.
Ms. Quratul Ain, Vice President FPCCI, Mr. Karim Aziz Malik Chairman FPCCI
Capital Office, Malik Sohail Hussain Chairman Coordination FPCCI Capital office,
Ms. Lena Staafgard, CHIEF OPERATING OFFICER, Better Cotton Initiative Pakistan,
Mr. Willems Jerpen, Head of Cooperation, EU Embassy and prominent
businessman has also participated in the said ceremony.
The objectives of FPCCI-BCI MoU is to promote the production of better cotton
internationally and to implement joint and synergetic activities to mainstream
sustainability in cotton production.
The Federation of Pakistan Chambers of Commerce & Industry FPCCI Capital House, Aiwan-e-Sanat-o-Tijarat Road, Islamabad, Pakistan
Tel: 051-2251891-93, 2289303 Email: islamabad.capital@fpcci.org.pk URL: www.fpcci.org.pk
President FPCCI Mr. Atif Ikram Sheikh said that production of Cotton will generate
ample income for more than 250 million people worldwide. Approximately half of
all textiles are made of cotton. He further said that Pakistan is blessed with Cotton
production. Pakistan has a supply base for almost all man-made and natural yarns
and fabrics, including cotton, rayon, and others products of textile. Pakistan is the
8th largest exporter of textile products in Asia. It is 4th largest producer and 3rd
largest consumer of cotton. It comprises of 46% of the total manufacturing sector
and provides employment to all most 40% of the total labor.
Mr. Atif Ikram Sheikh President FPCCI further said that I am glad to sign this MoU
with Cotton Better initiative Pakistan because the changing dynamics of textile
and cotton market where Pakistan is in desperate need to fill the textile industry
demand. We are lagging in production of cotton according to our requirement.
We are producing approximately 8 to 9 million bales which should be increase as
it is a main sector of the country.
We give great importance to promote supply chains by ensuring provision of raw
material to our leading export sector the textile industry. He said that this MoU
signed between FPCCI and Better Cotton is an important step in bringing and
developing strong linkages between the two important stakeholders. If we want
to compete in this world, we have to produce quality cotton textile product to
make it exportable.