Industry & Economy
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Industry Associations
FAPCCI moves for global trade facilitation centre
Our Bureau
Hyderabad
,
Nov. 21
IN efforts to boost exports and attract investments into the State, the Federation of Andhra Pradesh Chamber of Commerce and Industry (FAPCCI) is planning to set up an `International Trade Facilitation (ITF) Centre' in association with the Andhra Pradesh Government.
Announcing this at the inaugural of the two-day national seminar on the `Role of facilitators in export and import' here, Mr S.S.R. Koteswara Rao, President of the chamber, said the ITF centre would lead to a single point interaction to explore trade opportunities.
"The centre would help to attract investors to the State, while assisting the exporters to increase their share in India's total exports," Mr Rao said.
As a precursor, the chamber joined the Global Business Exchange, which has a network of over 10,000 chambers of commerce around the world, providing instant business contacts and marketing opportunities.
Referred to as the `plumbing of international trade', trade facilitation calls for systematic rationalisation of procedures and documentation, minimising transaction costs and complexity of international trade.
The draft export policy is to be presented in Saturday's session, Mr Rao said. Regretting that India accounted for a meagre 0.8 per cent of world trade, Mr Rao felt that the "persisting problem of infrastructural inadequacies, high cost of finance resourcing and a legacy of stifling labour laws were not conducive for exports."
Mr K Vijayarama Rao, Minister for Commercial Taxes in the caretaker Government, asked the exporters to focus on quality and pricing.
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