KARACHI - The International Cotton Association (ICA) President Ahmed Elbosaty has extended invitation to Pakistan’s spinning sector to become ICA member in order to get benefits of international cotton trade via ICA.

Speaking toAPTMA office-bearers and members as APTMA House on Wednesday Elbosaty said that almost 80 per cent global cotton trade is being done via ICA and APTMA members could have the benefits and expertise of the ICA after becoming its member.  In his first ever visit to Pakistan and APTMA, ICA chief said that the association has changed its rules and regulations in order to allow spinners, weavers, retailers, etc. to become its members so that the whole supply chain could be benefited from ICA’s services and professional programmes.

He mentioned that ICA’s arbitration is free of charge for the members while non-member has to pay $15,000 as application fee for arbitration. He said that membership fee for individual (industry) is $2000 and there would be no charges for services and training or becoming its arbitrator.

Earlier, the Zonal Chairman APTMA Yasin Siddik in his welcome address said that the ICA’s delegation’s visit to Pakistan would be very helpful for Pakistan’s textile sector particularly spinning and such visits would bring the local and international stakeholders closer and improve mutual understandings.  He said that by virtue of Pakistan’s status as fourth largest cotton producer and third largest cotton consumer, should have at least two members from APTMA should be on ICA’s board of rules and regulations.

He assured that APTMA would have more interactive sessions with ICA in future as well. APTMA’s Central Chairman Ahsan Bashir who joined the meeting through satellite from Lahore said on the occasion that ICA Chief’s visit to Pakistan has dispelled some wrong impression about ICA and APTMA members’ reservations. He said that APTMA’s members are likely to get benefit from ICA’s services and arbitration.