Ahmed Elbosaty, President, The International Cotton Association (ICA) has extended an invitation to Pakistan’s spinning sector to become ICA member to get benefits of international cotton trade via ICA. Elbosaty said that almost 80 per cent of global cotton trade is being done through ICA and APTMA members could get benefits and expertise of the ICA after becoming its member. In his first ever visit to Pakistan and APTMA, the ICA chief said that the association has changed its rules and regulations in order to allow spinners, weavers, retailers, etc, to become members so that the whole supply chain can benefit from ICA’s services and professional programs.
He mentioned that ICA’s arbitration is free of charge for members while non-member have to pay $15,000 as application fee for arbitration. He said that membership fee for individual (industry) is $2,000 and there would be no charges for services and training or becoming its arbitrator.
Yasin Siddik, Zonal Chairman, APTMA said that the ICA’s delegation’s visit to Pakistan would be 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, it should have at least two members from APTMA on ICA’s board of rules and regulations.