MULTAN, Dec 23rd: Small & Medium Enterprises sector should come forward to boost up exports of Pakistani productsto earn maximum foreign exchange and to minimise the trade deficit. It is survival of our economy and prosperity of our nation, said Mian Rashid Iqbal Senior Vice President of Multan Chamber of Commerce & Industry (MCCI) while opening the one-day training programme on Import-Export documentation & procedure jointly organised by SMEDA and MCCI here today. He said that having proper skills and knowledge in export procedures and training in import export documentation is important for an individual or a company doing or planning to do business overseas. Whether this task is performed in house or outsourced part of the process to freight forwarder, it is imperative that the entrepreneur / enterprise and the staff have the knowledge to manage this key element of international business,he added. Vice Chairman of FPCCI's export trade committee/trainer Ijaz Ahmed said that the training provides a combination of presentations, group discussion and exercises, which will enable you to effectively undertake import and export function. we should gain in-depth understanding of Import Export Process Documentation,Manage effectively terms of sale and payment for import export business,Learn relevant regulation / rules that can save penalty / fine and avail the available incentives.What is a Letter of Credit (L/C) and what it is not! and How ? Complete understanding of L/C Clauses with a view what clauses not to be accepted? What type of L/C is the best? SBP & ICC regulation / rules that can save penalty / fine and avail the incentives with International Trade Payment Methods: Advance T.T.s / Documentary Collections and L/C’s Process, Terminology, concepts. Practical Exercise on Import - Export L/C Documentation in Pakistan: Correspondence, agreements, LC issuance procedure and steps involved, L/C Swift, Processing, Shipment, Bank’s channels, Bank Settlements, Reporting to SBP and how to avoid Discrepancies Penalties in L/C documents highlighted via specimen documents and checklists.The training programme was also attended by Sheikh Faheem Sattar, Anwar Saleem Keen, Ms. Alina Fayyaz Durrani (SMEDA)and Acting Secretary General Muhammad Shafiq.
