A Halal Malaysia Week 2008 will be organised in Dhaka in July to promote and popularise halal products in Bangladesh. Hazizah Awang, president of Epic Tips, a promotion and marketing agency for Malaysian entrepreneurs, told a press conference in Dhaka Saturday that at least 50 Malaysian companies will participate in the exhibition to be organised during the Halal Malaysia Week, reported by Malaysian media source.

“The halal market in Bangladesh is huge and it is not just food products but it includes services and logistics,” said Hazizah.

She said that her organisation will also assist Bangladesh authorities to develop a halal certification body in this country. Datuk Hashim Abdullah, Deputy Secretary General of the Malaysian Ministry of Entrepreneur and Cooperative Development, told newsmen that Bangladesh would reap benefits from this promotion and marketing of halal products.

“Bangladeshi entrepreneurs can create a network with their Malaysian counterparts to develop the halal market,” Hashim said. “We are aware about Bangladesh’s untapped market where majority of consumers are Muslims,” he said.

Malaysian High Commissioner to Bangladesh Datuk Abdul Malek Bin Abdul Aziz said Malaysia would cooperate to develop the halal market in Bangladesh and the Halal Malaysia Week in July would contribute a lot in this regard. According to organisers of the event, about 1.8 billion Muslims in 142 countries are the main consumers of halal products.

The halal foods market, valued at US$900 billion, is expected to grow 16-25 percent annually until 2025.

The D-8 member countries have started another round of negotiations here Thursday to finalise Rules of Origin (RSO) for strengthening social and economic relations between the brotherly Muslim countries with particular focus on trade and commerce.

High Level Trade Officials (HLTO) from Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey have been taking part in the 9th HLTO meeting to unanimously formulate and finalize RSOs for implementing Free Trade Agreements (FTA), Preferential Trade Agreements (PTA), customs agreements and other similar initiatives.

The 7th and 8th HLTO meetings were, held in Islamabad in December 2006 and May 2007, considered Revised Draft Rules of Origin tabled by Pakistan along with amendments proposed by other member countries. However, no consensus was developed for the formation of RSO during these meetings. The two-day HLTO meeting has been organised by ministry of foreign affairs, which would conclude on March 28 after finalising RSOs.

The prime objectives of the D-8 are to improve the developing countries’ position in the world economy, diversify and create new opportunities in trade relations, enhance participation in decision-making at international levels and provide better standards of living to the people. In his inaugural address, Secretary General D-8, Dipo Alam highlighted the importance of enhancing relations between the brotherly Muslim countries, arguing that policies for enhancing trade should be formulated keeping in view the developing nature of the member countries.

He said these countries have potential to enhance trade among themselves, as well as with other countries of the world, however, this needs to be exploited for the betterment of their peoples. He said that presently D-8 countries global trade totals about $720 billion but the intra-state trade is merely about 6 per cent of it, which he said needs to be enhanced.

He stressed the need for expediting the process of finalizing the RSOs to implement FTA, PTA, Customs Agreements and other similar agreements. Speaking on the occasion, Secretary Ministry of Trade and Commerce, Syed Asif Shah expressed the hope that as the D-8 process moves forward with the implementation PTA, the member countries would be able to come up with concerted stance on all international trade issues. He said that collective wisdom and experience of the trade officials would help in the formation of rules to facilitate trade.

It may be recalled that D-8 group was established in 1997 with an aim to seek broader and deeper cooperation amongst member states in political, scientific, technological and cultural fields with a view to enhancing and accelerating social-economic development of the member countries.

The identified areas of cooperation are as agriculture in Pakistan, industry in Turkey, trade in Egypt, telecommunication and information in Iran, poverty alleviation in Indonesia, finance in Malaysia, rural development in Bangladesh, energy in Nigeria, environment and health in Turkey and technical consulting association in Iran.

Source: AP Pakistan.

Bangladesh today celebrated her 38th Independence and National Day paying tributes to the martyred war heroes.

A 31-gun salute at dawn heralded the day. President Professor Iajuddin Ahmed and caretaker government Chief Advisor Dr Fakhruddin Ahmed led the nation in paying tributes to the martyrs of the Liberation War by placing wreaths at the National Monument at Savar, 30 km north of capital Dhaka, at sunrise, reported by Bangladeshi media sources.

Chief adviser Fakhruddin Ahmed called upon people from all walks of life Tuesday to come forward with a view to building the country in the spirit of the Liberation War. “The people of Bangladesh have huge potential. They can bring a change to the country if they get the opportunities and a favourable atmosphere,” the chief adviser said while addressing the Independence Award 2008 ceremony at Osmani Memorial Auditorium.

Thousands of people from all walks of life paid glowing tributes to the millions of martyrs by placing wreaths at the altar of the monument.

President Ahmed later took salute from a spectacular parade in the capital as the military demonstrated its might on the country’s Independence Day.

It was a public holiday. National flags were flown at government and private offices and buildings. To save electricity, the government dropped the program of illumination in the evening.

On the occasion, President Professor Dr Iajuddin Ahmed and Chief Adviser Dr Fakhruddin Ahmed greeted the people issuing separate messages that also carried call for them to work unitedly for building a forward-looking developed Bangladesh based on an equitable society.

Photosource: Reuters

IM Technologies Pakistan, a Malpak-IJM venture, has secured the award from Karachi Development Co to build an IT Tower Complex at Hassan Square, Karachi.

IJM Corp, via joint-venture company IM Technologies Pvt Ltd, has clinched a RM632 million (nearly 200m US$) contract to design and construct a 47-storey information technology complex in Karachi, Pakistan, which will be the tallest building in the country upon completion.

Expected to be completed within 30 months, the building will comprise a three-storey basement carpark, a six-storey retail and commercial area, 41-storey office space, a 240-room hotel and a call centre that can accommodate 10,000 seats. Chief executive officer Datuk Krishnan Tan said the award of the contract indicates the Karachi local government’s confidence in the expertise and capabilities of IJM as well as its partners.

“We are honoured to be given this project and hope there will be more cooperation as such in the future,” he said after witnessing the project contract signing ceremony between IM Technologies and Karachi Development Co Ltd in Kuala Lumpur last month.

IM Technologies, a 60-40 joint-venture company between IJM and Malpak Ltd, was represented by its director Datuk Goh Chye Koon, while Karachi Development was represented by Karachi mayor Syed Mustafa Kamal.

Meanwhile, on Karachi’s RM350 million elevated highway project, Tan said IJM will need to re-evaluate the project, including re-pricing, following the local government’s decision to make some changes to the expressway design.

“We are not able to give a timeline on how long it will take to re-evaluate the project. It all depends. We will need to look at the entire project as well as the proposed changes,” he said.

Commenting on the present political climate in Pakistan, he said IJM remains interested to look for opportunities in the country, despite the higher risk factor. “The risk is there. However, we are also looking at its interesting economic numbers. It has huge potential.

ADB to provide $800m for modernisation of Karachi

Meanwhile, caretaker Sindh Minister for Finance and Information, Dewan Mohammed Yousuf Farooqui Thursday said that government wants to develop Karachi as a modern city of international standard. He was chairing a meeting of Steering Committee of Karachi Mega City Development Project in which Project Director Shoaib Ahmed Siddiqi briefed about the project significance and ADB loan.

The Minister was informed that Asian Development Bank will provide 800 million dollars for developing Karachi as a modern city with implementation of schemes of water supply, modern sewerage system, urban transport, katachi abadis and low income segments of population. In this regard, Shoaib Siddiqi said the Provincial Working Development Party has approved PC-1 and forwarded to Central Working Development Party for approval. The meeting was also briefed by Staff Review Committee Loan Requisition Board.

On the occasion, Project Coordinator Roshan Shaikh informed the Finance Minister that a meeting regarding Citizen Committee Board has taken place under the chairmanship of Sindh Governor whereafter it was decided to stop Citizen Committee Board from operating.

It was decided that in the next meeting of Project Steering Committee, the officials of Water and Sewerage Board will also be invited and later Nazim Karachi and DCO to another meeting so as to take some opinion regarding IT Platform. Later the committee approved the 2007-2008 budget of Project Support Unit and Local Support Unit. The meeting also unanimously approved the honoraria of various members of Project Steering Committee, police guard and lower staff.

The Thirteenth International Oil, Gas and Petrochemical Industries and Products Exhibition will be held in Tehran on 16 April, 2008.

The registration of the companies which want to participate at the exhibition has begun and some 700 local firms and 450 foreign firms have already registered, IRNA reported.

This year’s exhibition coincides with the 100th birthday anniversary of the oil industry in Iran.

A senior Oil Ministry official, Mohsen Aghajani, has declared that the exhibition will be held on an area of 30 thousand square meters.

The five-day exhibition will open in Tehran’s Permanent International Fairground to display the latest developments in the field of oil, gas, and petrochemical industries.

Pakistan is celebrating the 68th Pakistan Day with full traditional zeal and fervor today (March 23rd). The day dawned with a 31-Gun Salute in the Federal Capital and 21-Gun Salute in Provincial Capitals. Special Prayers were offered in all mosques for solidarity and prosperity of Pakistan. Main feature of the day is the Armed Forces Parade, which is being held at Jinnah Sports Complex, here. President Pervez Musharraf took the salute, reviewed the parade and delivered his brief address.

Caretaker Prime Minister Muhammad Mian Soomro, Defence Minister, Chairman Joint Chiefs of Staff Committee General Tariq Majeed, Chief of Army Staff General Ashfaq Kayani, Chief of Naval Staff Admiral M Afzal Tahir, Begum Sehba Musharraf and other armed and civilian high officials attended the parade. Smartly turned out contingents drawn from the three Services presented the Guard of Honor. It was followed by a scintillating fly-past of the PAF Combat Aircraft.

Leaders from all around the world such as Turkish, Chinese, and Indian Presidents, sent their messages to President Pervez Musharraf felicitated him and the people of Pakistan on the eve of Pakistan Day. Turkish President Abdullah Gul in his felicitation message said that Ankara was determined for further strengthening of the historical friendship ties with Pakistan. He hoped that Pak-Turk friendship would continue passing on to the next generations and the Pakistan Day would prove to be an opportunity for further strengthening the national integrity and solidarity of Pakistan. China vowed taking strategic cooperation with Pakistan to new heights, said the foreign office here. Chinese President Hu Jintao in his message has expressed his and on behalf of the people of China good wishes to President Pervez Musharraf and the people of Pakistan. He hoped that the people under the leadership of President Musharraf would succeed in meeting the internal and external challenges confronting Pakistan. Chinese President congratulating President Musharraf on his success vowed China taking strategic cooperation with Pakistan to new heights. Indian President, Pratibha Patil in her Pakistan Day felicitation message to President Pervez Musharraf and the people of Pakistan expressed this hope that the joint efforts of the two countries for improving relations would meet with success, as the people of both the countries have strong desire for peace and amity.

Still Reliable Place for Investing

Meanwhile, Pakistan is still a safe place for Malaysians to invest and do business, said Pakistan’s High Commissioner to Malaysia Lt Gen (Rtd) Tahir Mahmud Qazi on the occasion day. In giving this assurance in Malaysia, Tahir said the Pakistan authorities and security forces were capable enough and knew how to tackle and overcome the security challenges and violence. Tahir said Malaysian companies including some big companies continued to invest in Pakistan while the confidence of the international business community also remained intact. “Just ask them (those already in Pakistan)…they are there. Go to Pakistan and make money…lots of money,” he said when asked how safe was Pakistan for Malaysian investors following incidences of violence in the South Asian country lately.

Earlier, Tahir hoisted the Pakistan flag at the high commission’s compound in conjunction with the republic’s 68th anniversary. Describing the incidences of violence as “fluctuating”, Tahir said what Pakistan was going through today was not something new, adding that the violence was mainly due to the spillover effect of the ongoing conflict in neighbouring Afghanistan. “What is happening primarily is not our doing but (we) just happen to be in a particular region and that region is destabilised…I am referring to the Afghanistan situation. A kind of war is going on there, in areas bordering Pakistan…we are getting the heat. “But Pakistan is a very resilient country…we know how to deal with the situation,” he said.

According to Tahir, the target of most of the attacks in Pakistan so far had been the law and order agencies and the armed forces and not on foreign investors or the business community. Tahir said Malaysia was today one of the leading foreign investors in Pakistan and involved mainly in the infrastructure and energy sector, while Pakistan was the third largest importer of Malaysia’s palm oil.

Tahir named defence, science and technology and space technology as among the new areas of cooperation that both countries could explore. He said Pakistan, a country of 162 million people, would like to see more investments from Malaysia, including in the power and alternative source of energy sector. He said in the last seven years, Pakistan was the third largest growing economy in Asia and this was also a testimony to being a country which continued to be attractive for foreign investors. On Pakistan-Malaysia bilateral relations, he said both countries signed the Free Trade Agreement (FTA) last November, marking the first FTA between two Organisation of the Islamic Conference (OIC) countries. Currently, there are about 30,000 Pakistani migrant workers in Malaysia.

About 100 members of the Pakistani community attended the event where the message of President Pervez Musharraf was read. In his speech, Tahir who paid tribute to the founder of Pakistan, Muhammad Ali Jinnah, said there was a need for its people to work hard and make collective efforts to transform Pakistan into a modern, progressive and tolerant society.

D-8 Organization, through the Secretary General Dipo Alam, extends its highest congratulations for Pakistan on this special occasion, and believes that the country’s growth will flourish as its cooperation within the framework of D-8 Organization developed to higher ground with the supports of all member states.

Photosource: AP

Though renown for its white sand beaches and sun, Turkey has not yet optimized its potentials in health tourism. The modern health infrastructure in Turkey so far has not yet been maximized to share the pie and only gained 500 million dollar of this 35-billion dollar industry, reported by Turkish media.

Turkey, with foreigners figure looking for health treatment at 250,000 per year is left behind tiny country as Singapore that hosts 1 million patients per year looking for medical cure. Other countries such as South Korea, Singapore, Bahrain, and Malaysia develop themselves in the market by providing the latest modern equipment and government backing in easy visa and ticket support to clients.

This supports so far has made it easier for a Turkish patients for example, to go to these countries in a 14-hours flight trip, rather to go to places such as Hatay, Gaziantep, or Mersin by bus. However, the increasing number of modern equipped hospitals in Turkey has increased the potential in health tourism. Head of Turkish Association of Health Tourism, Dursun Aydin, said “We are among the highest country in term of health-tourism potentials; however, we fell off far behind in optimizing it. If we develop our sector for more, I believe that within 5 year we can hit our target of 10 billion dollar.”

Turkey held an event for Health Tourism in March 14-17 at the Maritim Pine Beach Resort Hotel in the Mediterranean city of Antalya.  Attendees included representatives of hospitals, private clinics, spa establishments, insurers and tourism agencies. Issues, which concern both domestic and global health tourism, was covered during the presentations and panel discussions of the four-day program. Expert speakers on the subject of health tourism brought in from overseas to address the delegates. Opening speeches were made by Health Minister Recep Akdağ and Culture and Tourism Minister Ertuğrul Günay. On the second day discussions was held on thermal tourism. Turkey hopes to become the world’s number one in the health tourism sector by 2023.

D-8 Organization will have program of Tourism in Ministerial Level in Iran this year. To back up this, D-8 secretary general has already scheduled to meet the secretary general of UN World Tourism Organization in Madrid, Spain very soon.

Iran will sign a final agreement to export gas via pipeline to Pakistan in April. Iran, the world’s No 2 holder of oil and gas reserves, has completed half of the pipeline, which will have a capacity to carry 110 million cubic metres of gas a day to Pakistan, senior pipelines expert at National Iranian Gas Vahid Zeydifard said, as reported by media source in Pakistan.

Iran plans to start exporting gas to Pakistan from 2011, a private TV channel reported. The 7.4 billion-dollar project, known as the “peace pipeline,” will carry gas from Iran to Pakistan and India to meet the growing energy demand of the two countries.

“Negotiations are at a final stage,” Zeydifard said, adding:.”Pakistan needs 50 million cubic metres of gas a day, and we can supply the rest to India if they want it.”

India currently uses about 108 million cubic metres of gas a day. Iran was unable to commission gas export projects either via pipeline or in liquefied form because US sanctions were preventing international lenders and investors from releasing funds, Zeydifard said.

Pakistan is facing a shortage of gas as domestic fields decline and may have to depend on Iranian fuel to meet demand, which is expanding by five percent a year. Iran and Pakistan had agreed on the pricing formula for transporting natural gas through the proposed pipeline, the official Islamic Republic News Agency reported on October 23.

The National Iranian Oil Company was developing the Kish field, which would transport gas via a 900-kilometre pipeline from Assaluyeh to Iranshar once it was completed, said Zeydifard, whose company transports gas in Iran. Pakistan could start receiving the gas when Iran completed a 400-kilometre section from Iranshar to the Pakistani border, Zeydifard said.

Iran halted gas exports to Turkey in January to meet soaring domestic demand due to extreme winter weather. “We have started exporting gas to Turkey again,” said Zeydifard.

“We had supply problems because of the cold weather and disruption of gas supplies from Turkmenistan,” he said. Iran sells gas domestically at 20 cents a million British thermal units. The benchmark gas price at Henry Hub, Louisiana, a gas trading point, is 10 dollars a million Btu. Iran might increase exports of gas this year to Turkey by 30 percent to 10 billion cubic meters, Zeydifard said.

Iran`s trade exchange with the 8 developing countries (D-8) is valued at some $2.5 billion during a period of 10 months.

The Islamic Republic of Iran`s trade exchange with the D-8 states has been valued at 4 billion and 10 million and 526 thousand dollars from March to December 2007. The figure shows an increase of 483 million and 274 thousand dollar. During the above mentioned period, Iran has exported some 882 million and 116 thousand dollars of its goods and products to the countries and the figure shows a 22.6 percent growth over the same period in the 2006.Iran`s export to the countries in the same period in 2006 had been estimated some 719 million and 734 thousand dollars.

Ethylene had been the main exported item and some 115 million and 366 thousand dollars of the product have been exported to the D-8 countries from Iran. Vehicles ($693. 615 million), fresh and dried pistachio ($53.386million), paraxylene ($37.101 million) and polyethylene ($23.605 million) are among the other Iranian products exported to the above mentioned countries. In turn, Iran`s imports from the countries have been valued at 1 billion and 611 million and 684 thousand dollars during the same period.

Cigarette ($64.134 million), fiberboard ($55.679), paper and cardboard ($51.248 million), rice ($36.849), iron and steel pipes ($35.373 million) are among the main products imported to Iran from the D-8 countries. In the figures, among the countries, Turkey has been ranked first in terms of exports to Iran.

Turkey`s exports to Iran have been valued at $931.317 million in the same period. Malaysia ($315.723 million), Indonesia ($197,267 million), Pakistan ($101.201 million), Bangladesh ($41.535 million), Egypt ($24.577 million), Nigeria ($ 63 thousand) are ranked next.

Iran`s export to Turkey has been valued at $444.703 million. The Islamic Republic`s exports to the other countries are as follow: Pakistan, $215.899 million, Bangladesh $14.401 million, Egypt $16.292 and Nigeria $11.427.

The increase of trade exchange between Iran and Turkey reflects the significant improvement in economic relations between the two countries during the recent years. The Turkish Petroleum Company (TPAO) voiced interest last month in investing in Iran`s South Pars gas-field. Turkey`s Energy Minister, Himli Guler, also announced in February that his country planned to cooperate with Switzerland in the construction of a gas pipeline to transport Iran`s natural gas to Italy.

News Constributor: TarkishNet

Iran and Indonesia on Monday last week discussed the ways for promotion of mutual economic relations, reported by Iran media source. The secretary general of Iran’s Chamber of Cooperatives, Mohammadreza Ramezani, in a meet with the chairman of Indonesia’s Cooperatives Council, expressed dissatisfaction over the limited trade volume between the two countries, calling for broadening the transactions in the future.

The Iranian official added that supporting the sides’ investment and holding joint sessions would lay the grounds for expansion of relations in the field of trade and economy.

The Indonesian official, for his part, welcomed the promotion of ties through the sides’ cooperatives sectors, expressing his country’s eagerness to take advantage of Iran’s experience in different fields of trade.