ISLAMABAD - Pakistan and Tajikistan signed sugar agreement, as Islamabad would provide 30,000 metric tons of white refined sugar through Trading Corporation of Pakistan to Tajik government.

Nurmahmad Akhmedov, Chairman of Agency on State Material Reserves of Tajikistan and Minister for Commerce, Muhammad Makhdoom Amin Fahim signed minutes of the “Pakistan-Tajikistan negotiations for trade of sugar” during a signing ceremony here on Wednesday.

Pakistan, on request of government of Tajikistan, agreed to provide 30,000 Metric Tons of white refined sugar through Trading Corporation of Pakistan in compliance with the Economic Coordination Committee of the Cabinet’s decision dated 7th August, 2012 at a preferential rate of $20/ PMT, lower than the international market price, ($548.25 PMT as on 13th August, 2012-day of negotiations) in the wake of humanitarian crisis faced by the people of Tajikistan.

Both the parties have, after thorough negotiations, agreed upon a draft commercial agreement except the provision of inland/domestic transportation of sugar from mills to the point of delivery which will be finalised as soon as the clarification, sought by the Ministry of Commerce from the ECC of the Cabinet of Government of Pakistan, is received.

The government of Tajikistan, while appreciating the goodwill gesture of Government of Pakistan, requested for early delivery of sugar to Tajikistan i.e. before the onset of winter season (30th September, 2012). Pakistani side agreed to fulfil the commitment within shortest possible time.

Sugar will be exported to Tajikistan against 100% secured cash L.C (letter of credit) to be established/opened by the government of Tajikistan through any first class internationally recognised bank. The delivery will be in three tranches of 10,000 MT each.

The two sides also agreed to the point of delivery would be Amangarh, district Nowshera (KPK), a commercial agreement between the two parties will be signed within 15 (fifteen) days and on the proposal of Secretary Commerce, the two sides agreed to explore the potential of bilateral trade between the two countries and will have a technical level meeting soon.