August 25, 2013 by apicomely
Pak, Afghan Finance Ministers discuss measures to enhance trade, economic relations
Proceeds will be used by the Company to fund its establishment and operation, provide capital for newly originated maritime financings and potentially acquire a seed portfolio of outstanding loans. Kristan Bodden, CEO of Maritime Finance and an investor in maritime assets for 13 years, stated: This is an area that has historically been served by European banks. The current dislocation in the European banking sector has created a substantial funding gap in maritime asset financing. With Maritime Finance, we are capitalizing on an opportunity to fill an obvious void while at the same time aiming to provide compelling returns and attractive yields for our investors. According to AMA Capital Partners, over $220 billion of debt capital is required by the maritime sector through the end of 2014 and an enormous capital commitment is required to deliver the current maritime orderbook. Total offshore and shipping orderbooks are valued at $238 billion at cost and the lack of financing is impacting orderbook growth beyond 2016.
Hazrat Omer Zakhilwal and Senator Mohammad Ishaq Dar, Finance Minister of Pakistan along with their teams held an indepth discussion to explore ways to enhance bilateral trade and economic relations between Pakistan and Afghanistan when they met at the Finance Ministry here on Sunday. During their two hours long meeting both sides agreed that they have to overcome hurdles to exploit the tremendous economic potential which presents opportunities to enhance economic cooperation, trade and greater connectivity between the two countries for the benefit of their people. During the meeting, which was held in a very cordial atmosphere both sides held threadbare discussions on cooperation in areas of Communications, Railways, Afghan Transit Trade agreement and Power sector. Senator Dar also took up the matter of the need for a Double Taxation Treaty between the two countries for encouraging private sector investment. The Afghan Finance Minister welcomed the proposal and termed it positive.