MUM-18-04-2024

Arun Maheshwari re-appointed as JSW Infrastructure Joint MD & CEO

MUMBAI: JSW Infrastructure has re-appointed Arun Maheshwari as the company’s Joint Managing Director and Chief Executive Ofcer His re-appointment is effective April 18, the JSW Group company said in an exchange filing

“The Board of Directors has on April 15,

2024 re-appointed Arun Maheshwari as the Joint Managing Director & CEO with effect from April 18, 2024 for a term of 3 years, subject to approval of the shareholders of the company,” it said.

T h e B o a r d a l s o a p p r o v e d t h e appointment of Anoop Kumar Mittal as an Additional and Independent Director of the company for a term of three consecutive y e a r s , s u b j e c t t o a p p r o v a l o f t h e shareholders, the filing said

FFFAI - IIM Mumbai online Shipping, Logistics and Supply Chain Management course application deadline extended till April 26

MUMBAI: The deadline to register for our online Shipping, Logistics and Supply Chain Management course, which has been introduced jointly by the Federation of Freight Forwarders' Associations in India (FFFAI) and IIM-Mumbai has been extended till 26th April 2024.

This certificate course is designed for practitioners and anyone interested in Shipping, Logistics and SCM. This weekend program offers flexible scheduling with classes on Saturdays (5:00 PM–8:00 PM) and

Sundays (10:00 AM - 1:00 PM).

This is an opportunity for all the logistics service providers to enroll their Next Generation Leaders, to sharpen the skills of the existing workforce and most importantly to provide a stepping stone to the wide opportunities in the logistics sector for aspirants who wish to make their mark

Course Highlights:

1. Course Name: Certificate Course in Shipping, Logistics and Supply Chain Management Cont’d Pg. 6

Mr. Arun Maheshwari

FFFAI

- IIM Mumbai online Shipping, Logistics and Supply Chain Management course application deadline extended till April 26

Cont’d from Pg. 3

2. Indian Institute Management (IIM) previously recognised as National Institute of Industrial Engineering(NITIE) is the graduate business school under the Ministry of Education, Government of India andUnitednationDevelopmentProgramme(UNDP).

3. Indian Institute of Freight Forwarders (IIFF) Education wing of Federation of Freight Forwarders Association in India (FFFAI).

4. U n p a r a l l e l e d k n o w l e d g e a n d n e t w o r k i n g

opportunities Covering Import-Export, Customs

B r o k i n g , P o r t O p e r a t i o n s , S h i p p i n g & Freight Forwarding, Multimodal Transportation, Data Analytics, AI and more.

5. Conducted by top Faculty from IIM and Industry Experts from FFFAI/IIFF.

6. Duration: Interactive Sessions- 144 Hours Online

For more details, interested candidates may visit : https://iimmumbai.ac.in/center-of-excellence-inlogistics-and-supply-chain-management

Ex-DPA Chairman S.K. Mehta, IFS given warm farewell by Kandla Port Karmachari Sangh

GANDHIDHAM: Shri S.K. Mehtra, IFS who joined Deendayal Port Authority in the year 2019 has been promoted to the grade of Principal Chief Conservator of Forests recently and Kandla Port K a r m a c h a r i S a n g h h a s g i v e n f a r e w e l l i n Administrative Office, Gandhidham in presence of Shri Nandeesh Shukla, IRTS, Dy. Chairman of Deendayal Port Authority.

The farewell was given in grand manner in the presence of large numbers of Office Bearers of KPKS including Women Wing of the Union and while addressing the gathering, union expressed that in last 5 years, Shri S K Mehta has done various progressive projects and schemeswhichhasbroughthugeinvestmentinKandlaPort Not only this but, he has also run the administration work in the best interest of industrial harmony and peace which is seen that at no point of time any agitation or protest

registered against the local administration during his tenure.

On behalf of Union, few of mementos were offered to Shri S.K. Mehta, IFS and while speaking on the occasion Shri Mohan K Aswani, President of Kandla Port Karmachari Sangh expressed his views and appreciate such cooperation given by Chairman during his tenure since 2019.

India signs deals with Brazil, Argentina for pulses import

NEW DELHI: India is diversifying its import of pulses to keep domestic prices stable by entering into longterm deals with Brazil and Argentina after several rounds of negotiations, two officials aware of the matter said.

India, the world’s largest consumer and producer is expected to import over 20,000 tonne of black gram (Urad) from Brazil for the first time and unspecified amounts of pigeon pea (Tur) from Argentina to meet its domestic requirements.

Retail inflation in pulses remains high, although it slowed to 17.71% in March compared to a rise of 18.9% in February, according to official data Holding the repurchase rate steady, the Reserve Bank of India’s monetary policy committee on April 6 highlighted how food price pressures “have been

interrupting the ongoing disinflation process, posing challenges for the final descent of inflation to the target of 4%”.

India’s output of pulses dipped to 23.4 million tonne in 2023-24 from 26.1 million tonne a year ago, the agriculture ministry estimates.

“Affordability and availability are two big factors. The government has held several rounds of discussions with the South American nations, which have conducive weather to grow these varieties while their own requirements are not much,” one of the officials said, seeking anonymity

Pulses are the commonest source of protein for most Indians. A campaign by the central government to ramp up local production saw total output jump 37% since 2015-16, according to official figures, helping to cut costly imports.

Yet, the country has to rely on foreign shipments to meet total demand.

India’s requirement of black gram is solely met through imports from Myanmar under a memorandum of understanding between the two nations Import of gram from the conflict-ridden neighbouring country stumbled last year, affecting local prices.

“Long-term deals with affordable alternative suppliers will help supply management greatly as it is a hedge against price volatility,” a second official said, declining to be named.

In 2023, India imported nearly 3 million tonne of pulses, mostly lentils, black gram and pigeon pea, from Canada, Australia, Mozambique, Ta n z a n i a , S u d a n , M a l a w i a n d Myanmar.

India seeks global collaborations to explore use of methanol as ship fuel

SINGAPORE: An Indian delegation in Singapore has sought to partner with global shipping industry to explore new technologies and the potential of using methanol and ammonia as ship fuels, a senior Government official said recently

The Indian delegation is here to participate in the Singapore Maritime Week, which is being attended by over 10,000 delegates from around the world.

“ We a r e h e r e t o s e e k o u t collaborations for all new technologies and explore the potential of using methanol and ammonia as ship fuels w i t h t h e s h i p p i n g i n d u s t r y stakeholders,” Bhushan Kumar, Joint Secretary, Ministry of Ports, Shipping and Waterways, was quoted as saying on the sidelines of the event.

considered as cleaner alternatives to conventional maritime fuels Green ammonia and methanol, produced from low-carbon sources, help in reducing carbon emissions.

“We have to continue working on green fuel At this stage it may be commercially not very attractive, but we have to optimize and improve the solutions to make it commercially viable,” Kumar said Most of the industry key players are here and it is the right time to work out collaborations and partnerships, he said.

He further said that India’s efforts towards hydrogen production will also help the industry in energy transition.

“India is taking a lead in green shipping,” he said, adding that hydrogen production will become a reality in India by about 2027.

India is setting up hydrogen centres at Kandla, Paradip and Tuticorin ports. Land at Kandla has been awarded to Reliance, L&T and Welspur Groups for setting up hydrogen centres.

“The next step is how can we replace this green fuel and replace the heavy fuel in ships. We want to make methanol, ammonia, hydrogen — we are exploring all those possibilities and take a lead in green shipping worldwide which is also the objective of IMO,” Kumar said.

H e s u g g e s t e d s h i p e n g i n e manufacturers, ship owners and operators to get together to find out solutions to replace conventional fuels with green fuels.

Kumar interacted with the Maritime Port Authority and Port of Singapore Authority. He also met Singapore Transport Minister Chee Hong Tat.

North

Scandinavian, Red

Med.

Seahorse Ship U.K., North Continent, Scandinavian Ports & Riga, Klaipede, Tallim, St.Petersburg, Genoa, Valencia, Fos.

Globelink Globelink WW U.K., North Continent, Scandinavian Ports & Ashdod, Piraeus, Thessaloniki, Athens.

TSS L'Global Ag. U.K., North Continent & Scandinavian Ports. Dronagiri-2

AMI Intl. AMI Global U.K., North Cont., Scandinavian, Red Sea & Med. Ports. Dronagiri-3

Kalko Faredeal U.K., North Continent & Scandinavian Ports. Dronagiri-3

Team Leader Team Leader Felixstowe, Rotterdam, Antwerp, Hamburg, Barcelona, JWR CFS Le Havre, Istanbul, Genova.

Safewater Safewater Lines U.K., North Continent, Red Sea & Med. Ports.

Team Global Team Global Log. U.K., North Continent & Scandinavian Ports. Pun.Conware

Cordelia Cordelia Cont. Jebel Ali, Sharjah, Abu Dhabi, Ajman,

Drewry: World Container Index down by 1%

LONDON: Drewry’s World Container Index decreased by 1% to $2,795 per 40ft container last week.

Detailed assessment for Thursday, 11 April 2024

• The composite index decreased by 1% to $2,795 per 40ft container last week and has increased by 64% when compared with the same week last year

• The latest Drewry WCI composite index of $2,795 per 40ft container is 97% more than average 2019 (pre-pandemic) rates of $1,420.

• The average composite index for the year-to-date is $3,333 per 40ft container, which is $626 higher than the 10-year average rate of $2,707 (which was inflated by the exceptional 2020-22 Covid period).

• Freight rates from Shanghai to New York decreased 4% or $184 to $4,710 per feu. Similarly, rates from Rotterdam to Shanghai dropped 3% or $27 to $767 per 40ft box. Likewise, rates on Shanghai to Los Angeles declined 2% or $70 to $3,634 per 40ft container Also, rates from Shanghai to Rotterdam and Rotterdam to New York fell 1% to $3,050 and $2,224 per 40ft box respectively While rates on Los Angeles to Shanghai increased 1% or $5 to $693 per 40ft container. At the same time, rates from Shanghai to Genoa and New York to Rotterdam remained stable at the previous week’s level Drewry expects a minor decrease in Transpacific spot freight rates, whereas Transatlantic and Asia-Europe head towards stability in the coming weeks.

last week

DGFT allows onion export to Sri Lanka, gives additional quota to UAE

NEW DELHI: India has allowed a limited quantity of onion exports to the United Arab Emirates (UAE) and Sri Lanka, at a time when the staple vegetable's outward shipments have been kept under restrictions.

The Ministry of Commerce and Industry, through the Directorate General of Foreign Trade (DGFT), issued a notification, permitting the export of an additional 10,000 metric tons (MT) of onions to the UAE (above 24,000 tonne already allowed) and 10,000 tonne to Sri Lanka, facilitated through the National Cooperative Exports Limited (NCEL). In March, the centre allowed the export of 50,000 tonne onions to Bangladesh The government has extended the ban on the export of

onions until further orders.

Initially, India had in early December 2023 prohibited the export of onions till March 2024. The DGFT notification said the export of onions will be, however, allowed based on permission granted by the central government to other countries based on the request made by the countries.

In August, the government imposed a 40 per cent duty on the export of onions to check price rise and improve supplies in the domestic market until December 31, 2023.

The central government subsequently set a Minimum Export Price (MEP) of USD 800 per tonne on a free-onboard basis for the export of onions with effect from October 29.

Rupee-rouble settlement volume up seven times from 2022: Sberbank

MUMBAI: Almost two years after the Reserve Bank of India announced new steps for rupee-settled global trades, Russian banking major Sberbank said it has seen an uptick in volumes for rupee-rouble payments for Moscow’s imports, with the lender focusing on drawing more foreign clients to the domestic market.

“Sberbank offers its corporate clients a convenient way of carrying out settlements in rupees and roubles Sberbank has now become the main channel for such payments on Russian import operations, with volumes up by seven times last year compared to 2022. More and more companies are taking advantage of it, recognising the attractions of this means of payment,” Anatoly Popov, Deputy Chairman of the Executive Board of Sberbank, was quoted as saying recently.

In July 2022, the RBI said that it would put in place an additional arrangement for invoicing, payment and settlement of exports and imports in rupees. The step, taken in the aftermath of the Ukraine war, was aimed at supporting the increasing interest of global trading in rupees, the central bank said.

India’s oil purchases from Russia jumped after the war as New Delhi purchased discounted crude. The share of Russian oil in India’s total imports rose to 35% in 2023-24

from 23% in the previous year, according to energy cargo tracker Vortexa.

While rupee-rouble trades have faced significant hurdles over the past year — with reports saying such transactions had either stalled or turned towards other currency pairs — Popov said that more and more Russian importers were looking towards goods and services from India.

“We support this interest, because redressing the bilateral trade balance, which is in deficit for India, contributes to the harmonious development of our trade and economic relations. Indian companies produce quite a lot of competitive goods, and we are drawing the attention of our Russian clients to supply opportunities in India,” he said.

In April-October, India’s trade deficit with Russia was at $33.56 billion, official data showed.

Listing out specific areas in which foreign trade was being encouraged, Popov said Sberbank had engaged in 37 Indian business missions involving 2,500 companies on both sides from sectors such as food, textiles, pharmaceuticals, building materials, auto parts, specialised vehicles, sports goods equipment and packaging.

VESSELS DUE AT MUMBAI FOR EXPORT LOADING

NOTICE TO CONSIGNEES

m.v. “XIN FEI ZHOU” V - 093 (XFU -74/E) I.G.M. No. 2374395 Dtd. 17-04-2024

The above vessel is arriving at BMCT on 19/04/2024 with Import Cargo in containers.

Consignees are requested to obtain DELIVERY ORDERS on presentation of ORIGINAL BILLS of LADING and on payment of relative charges as applicable within 5 days or else Detention Charges will be applicable.

If there is any delay in CY-CFS movement due to port congestion Line/Agent are not responsible for the same. Consignees will please note that the Carriers and/or their Agents are not bound to send Individual Notifications regarding the arrival of the vessel or the goods.

For detailed information on cargo availability please contact our office.

For any charges enquiries, Please contact on our Import Hotline No. : 4252 4444 Container Movement to : OCEAN GATE CONTAINER TERMINAL PVT. LTD. As

The above vessel is arriving at NHAVA SHEVA (NSICT), INDIA on 18-04-2024 with import cargoes from ports CAI MEP (BA RIA VUNG TAU), HONG KONG, JAKARTA, LAEM CHABANG, PORT KLANG WESTPORT, XIAMEN also transshipment cargo of following Ex. Mother vessels:

Israel - Iran conict unlikely to impact Indian macro economy for now

MUMBAI: As Iran mounted its attack on Israel, launching hundreds of missiles and drones in its first direct attack on Israeli territory, Indian markets brace for volatility in t h e u p c o m i n g w e e k I n d i a n economists say that while the war could push crude above $100 per barrel, managing within that price range is feasible. “Now theoretically, even if that number is higher, our ability to absorb higher oil prices is a bit more,” says an economist with a global research firm.

There is also an expectation that the conflict is not expected to escalate further and could taper down with reports emerging of President Biden stepping in and telling the Isareli Prime Minister Benjamin Netanyahu t o n o t r e - e s c a l a t e t e n s i o n s “Seems like the storm has passed,” says a geo-politics economic expert. “Doesn’t seem to be a chance of an

escalation of conflict.”

Can Iran-Israel war impact India?

India imports over 80 percent of its crude oil needs rendering the South Asian nation vulnerable to global price changes.

If the conflict continues and oil supplies from the Middle East are affected, it will lead to the hardening of crude oil prices.

The impact ideally will be felt through two channels – an increase in inflation and a higher current account deficit. The impact on inflation would depend on how much higher prices are passed on to the consumers. If the conflict continues and prices remain high for a longer period it would translate into higher inflation, and l o w e r p r o f i t a b i l i t y s i n c e t h e manufacturer does not have pricing power due to low demand.

“The present situation is such that the inflation is trending downwards

and current account deficit is manageable The economy will be able to withstand it for some time. However, if it continues for a longer time, it will impact both inflation and current account, which will lead to slowing down of economy and could delay monetary easing,” explained Devendra Pant, Chief Economist, India Ratings.

According to an analyst, even with oil at $90 per barrel, losses made by Oil Marketing Companies will be very minimal, and there isn’t a strong reason for the government to hike pump prices just yet.

From an inflation point of view, India is in a comfortable spot with headline retail inflation coming in at a ten-month low. The Central Bank on April 5, highlighted the recent uptick in crude oil prices and ongoing geopolitical tensions as potential risks.

Road execution to grow 5-8 per cent in FY25 to 12,500-13,000 km:

MUMBAI: Road execution in India is likely to grow 5-8 per cent to 12,500-13,000 km in the current fiscal, after recording a robust expansion of 20 per cent in 2023-24, rating agency ICRA said. It added that the pace of execution in this fiscal will be supported by a healthy pipeline of projects, increased capital outlay by the gover nment and focus on completion of projects by Ministry of Road Transport and Highways (MoRTH).

ICRA noted that road execution was impacted in the first half of FY24 on account of a prolonged monsoon in certain geographies, which affected

ICRA Ratings

productive days

A c c o r d i n g t o I C R A , t h e Ministry's project award pipeline is healthy, at above 45,000 km as of March 2024

This is despite the awarding being significantly impacted in FY24 amid delay in approval from the Cabinet for the revised cost estimates of Bharatmala Pariyojana Phase 1 (BMP), it added.

Consequently, the overall awards declined by 31 per cent to 8,551 km in FY24 from 12,375 km in FY23. ICRA pointed out that a similar trend was seen in FY19 before the last general elections, when the project awarding

had declined by over 67 per cent on a year-on-year basis.

T h e r a t i n g a g e n c y s a i d engineering, procurement, and construction (EPC) mode continues to be the mainstay of this process, accounting for 70-75 per cent of the awards in FY24, followed by Build, Operate, Transfer (BOT)- Hybrid Annuity Mode (HAM), accounting for 25-30 per cent share.

"There were no awards under BOT-Toll in Fy2024," ICRA said, adding that in March 2024, the Ministry a m e n d e d t h e B O T-To l l m o d e l concession agreement to improve its attractiveness.

Delhi HC sets 5% IGST rate on the Import of Dialysis Machines

NEW DELHI: The Delhi High Court has awarded relief of as low as 5% Integrated Goods and Service Tax (IGST) towards importing dialysis machines by Fresenius Medical Care India Private Limited (FMC India).

Dialysis machines covered under HSN Codes 9018 and 9031 are exposed to be taxed at 5%, essentially awarding a significant rebate of 7% on the import of dialysis machines, the bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja witnessed.

The applicant/taxpayer, FMC, is the Indian subsidiary of the global

leader in the production, marketing, and distribution of quality dialysis and renal medical equipment.

Towards the uncertainty of the correct Integrated Goods and Services Tax (IGST) rates applicable t o “ d i a l y s i s m a c h i n e s ” a n d “ d i a l y s e r s , ” F M C s o u g h t clarifications as to the IGST rates on importing dialysis machines.

T h e a p p l i c a n t a s k e d f o r a recommendation via the respondent department to explain that the IGST rate applicable to the applicant for importing dialysis machines is 5% as per HSN code 90189031 for the office

memorandum on October 13, 2023.

T h e d e p a r t m e n t , d i a l y s i s machines covered under HSN code 90189031 are accountable to be taxed at 5% for the notification on October 13, 2023. A 5% IGST rate is applicable for “artificial kidney” and “disposable sterilized dialyzer” (serial No. 254-55, respectively).

“Insofar as the case of the petitioner is concerned, subject to verification of the HSN code, the same would be subject to tax at 5% in terms of said notification,” the court expressed during disposing of the petition.

VESSELS IN PORT & DUE FOR EXPORT LOADING

CJ-II VACANT

CJ-III Global Eagle Preetika Shpg. 19/04

CJ-IV

CJ-V

CJ-VI

CJ-VII

CJ-XII

LIQUID CARGO VESSELS

CJ-XVA Jin Bi Mystic Shpg. 21/04

CJ-XVI Summer Sky Cross Trade 22/04

OIL JETTY VESSEL'S

VESSELS DUE IN PORT FOR IMPORT DISCHARGE & EXPORT LOADING

DP WORLD MUNDRA

ADANI MUNDRA CONTAINER TERMINAL (AMCT)

CHINESE PORTS & AUSTRALIAN PORTS

VESSELS DUE / IN PORT FOR IMPORT DISCHARGE

NSICT

Lotus A (V-0FFBCE1)

APL Cairo (V-OUW2DW1) 18-04-2024

Hansa Europe (V-2414W)

MSC United VIII (V-IP415A) 12-04-2024 Hazira

MSC Bremen (V-IV415A) 13-04-2024 Mundra

Navios Constellation (V-4115) 15-04-2024 ACMTPL

Sofia Express (V-4311W) 16-04-2024 ACMTPL

Maersk Guatemala (V-414W) 12-04-2024 Salalah

SC Mara (V-24014) 13-04-2024 Jebel Ali

Wan Hai 501 (V-E246) 13-04-2024 Cochin

Tonsberg (V-OYS12E1) 15-04-2024 Port Kelang

Ever Unity (V-E198) 15-04-2024 Port Kelang

One Arcadia (V-0068E) 17-04-2024

Majd (V-24007W) 10-04-2024 MICT

Hyundai Hongkong (V-0115W) 10-04-2024 AICT

Kota Layang (V-094W) 11-04-2024 AICT

Wan Hai 317 (V-E218) 11-04-2024 MICT

Sprinter (V-051W) 12-04-2024 Hazira

Rhine Maersk (V-415W) 12-04-2024 Mundra

Rotterdam (V-76E)

W. E. F. 05-04-2024

´´ ´ We are not responsible for any mistake. ALL RATES ARE PROVISIONAL. The rates in this column are only meant for guidance. NAME

CONCOR throughput grown 11% to 12.44 lakh TEUs in Q4 FY24

NEW DELHI: Container Corporation of India (CONCOR) reported 11.24% increase in total throughput to 12,44,798 twenty-foot equivalent units (TEUs) in Q4 FY24 as compared with 11,19,034 TEUs recorded in Q4 FY23.

Domestic (DOM) throughput stood at 3,10,740 TEUs in Q4 FY24, registering a growth of 16.05% from 2,67,773 TEUs reported in the same period a year ago.

The export-import throughput grew by 9.73% year on year to 9,34,058 TEUs in the quarter ended 31 March 2024.

During FY24, the company’s total throughput was at 47,19,984 TEUs, rising 8.23% on YoY basis.

CONCOR operates 59 terminals across the country along with two strategic tie-ups. The company’s primary operation is to provide inland transportation of containers from ports using rail wagons. The company also manages cold storage chains and warehouses.

The logistics solution providers consolidated net profit rose 12.42% to Rs 330.74 crore on 10.28% increase in revenue from operation to Rs 2,210.57 crore in Q3 FY24 over Q3 FY23.

Overall exports surpassing FY23 figures despite persistent global challenges, shows the resolve of the resilient and vibrant exports sector : FIEO

NEW

DELHI: Responding to

o v e r a l l e x p o r t f i g u r e s f o r t h e FY 2023-24, which surpassed the last FY 2022-23 figures of US$ 776.40 bn to US$ 776.68 bn, goes to show not only the firm resolve of our resilient, gritty and vibrant exports sector of the economy but also of the overall exporting community, said Mr Ashwani Kumar, President, FIEO.

Good exports was the highest during any month of FY 2023-24 in March 2024 touching US$ 41.68 bn while imports were at US$ 57.28 bn, showing a merchandise trade gap of US$ 15.6 bn. Mr Kumar added that such an impressive increase in overall exports growth despite the geopolitical tensions especially the Russia Ukraine war, Red Sea crisis, tight monetary stance by the developed world and falling commodity prices posing challenge, portrays the full dedication and commitment of the sector, which has continuously been braving such odds post Covid. The exporters have consistently been performing, driving the growth of exports, and also adding to the growth momentum of the economy

Mr Ashwani Kumar said that major growth drivers of merchandise exports during the FY 2023-24 were Electronic Goods, Drugs & Pharmaceuticals, E n g i n e e r i n g G o o d s , I r o n O r e , C o t t o n Yarn/Fabs./Made-ups, Handloom Products etc. and Ceramic Products & Glassware, which itself is a good sign as most of these sectors are labour-intensive sectors giving boost to employment creation in the country

Mr Kumar further reiterated that recent tensions in West Asia especially the threat for consignments routing through the Red Sea has further added to woes of the exporting community, as the freight rates along with the insurance cost have gone up unimaginably high, with the burden of various surcharge Mr Ashwani Kumar also raised concern that much will depend on the new contracts to be signed with buyers during the new fiscal as the exporters have been absorbing the

burden of increased freight cost as per the old agreement

FIEO President reiterated that the need of the hour is to address the Middle East geopolitical situation, Red Sea crisis challenges by ensuring availability of marine insurance and rationale increase in freight charges. The sector also needs easy & low cost of credit, marketing support, besides conclusion of some of the key FTAs with UK, Peru and Oman soon.