While Governments of both the countries have been taking various steps for development of trade for the collective growth of economy in mutual interest, IFCOMA, gave further boost to it by signing of "Agreement for Co-operation" (AFC) with the Pakistan Footwear Manufacturers' Association (PFMA). Event was marked by the presence of Mr Hamid Yar Hiraj, Federal Minister of state for commerce at Lahore on 27th June '05 during the inaugural ceremony of JUFT fair at Hotel Pearl Continental.

Signing of Agreement between IFCOMA & PFMA on 27th June 2005 in the presence of Federal Minister of State for Commerce, Govt. of Pakistan, Mr. Hamid Yar Hiraj

The "Agreement for Co-operation" would help interaction amongst members of both the association in the sourcing of materials from each other and would also support delegations from both countries to visit on regular basis. The associations would also take up issues with the respective governments for removing hurdles related to import / export, tariff & non-tariff barriers and for opening of trade through Wagah border & Railways.

The agreement underlines the need to build a platform between the two countries for exchange of information through their websites, periodicals/ newsletters, updates on the business competence search in respective markets to encourage strategic alliances and ensure development & progress on the mutual business needs.

Honorable Minister of State for Commerce released the latest IFCOMA Members Directory, 2005 during the inaugural function. The directory was further distributed to the distinguished guests. It was after a gap of five years that the 8th Pakistan International Footwear & Components Exhibition popularly known as JUFT Show '2005 opened with great enthusiasm and enthralling response.

The fair was organized by Pakistan Footwear Manufacturers' Association (PFMA) from 27th to 28th June'2005 at Hotel Pearl Continental, Lahore.

There were 69 exhibitors who participated in this two-day event and about 1000 visitors came to the fair to catch up their interest. Indian delegation led by IFCOMA comprised 15 participants from India ranging from Lasts, Soles, adhesives, Toe-puff & counter, Jute Insole, Linings, Interlinings, Chemicals & Compounds, Coated Fabrics, Cutting Dies & Profiles etc. took interest in this exhibition.

Federal Minister of State for Commerce, Pakistan, Mr Hamid Yar Hiraj inaugurated the exhibition and the Guest of honours included Mr Wasim Zakaria, President, PFMA, Mr Haroon Rashid, Director General, Export Promotion Bureau, Lahore & Shri Mani Shanker Almal, President, IFCOMA leading the Indian delegation.

In his address, President of PFMA, Mr Wasim Zakaria highlighted the growth of footwear industry in Pakistan. He said that post 9/11 era Pakistan Footwear Industry had to face heavy odds but still the Industry has exhibited phenomenal growth from the export of US Dollar 37 million in the year 2001 to almost US Dollar 100 million dollar in the current fiscal year. This was achieved inspite of the cuts in duty drawback rates 11% to 5%. Even in the domestic front, where there is a heavy Chinese competition, the industry has been progressing very well. International brands of the repute Pierre Cardin, Nike, Reebok, Slazenzer, Bally, Hush Puppies have succeeded to establish in Pakistan.