KARACHI - Union of Small and Medium Enterprises has urged the Governor SBP for currency swap arrangements to promote trade between all ECO countries, Afghanistan, Iran Azerbaijan, Kazakhstan, Kyrgyzstan Republic, Tajikistan, Turkmenistan and Uzbekistan by entering into currency swap agreements (CSA) for smooth transactions to facilitate trade.

President UNISAME Zulfikar Thaver said it was very important that the SBP gives cognizance to the fact that SME exporters and importers to and from ECO countries were facing difficulties in transactions in US dollars and desire swap arrangements to enhance business.

He said the CSA with Turkey an ECO member is indeed a wise step and appreciated the initiative of President  Zardari in making it happen and since, Pakistan share common borders with Afghanistan and Iran, so it would be in the interest of all neighbours to have CSA with one another.

He emphasized the need to revive the spirit of the RCD which comprised of Pakistan, Iran and Turkey and the co-operation extended to one another. He said that need of the hour is that the ECO members, who are in a position to import and export goods and services from one another be facilitated by CSA to further the cause of economic co-operation between these countries.