Pak minister indicates improved trade ties with India

Assocham willing to sponsor high-level business delegation to Pakistan in March 2014

With a view to address logistics related issues in promoting economic ties between India and Pakistan, the commerce secretaries of both the countries are examining all possibilities for expanding the list of items traded currently through Wagah Border, Commerce Minister of Pakistan,  Khurram Dastagir Khan said at an Assocham meeting held in New Delhi today.

“Restrictions in issuance of visa and derailment of an on-going dialogue between the two countries owing to an unfortunate incident are the biggest hurdles in implementation of the SAFTA (South Asian Free Trade Agreement),” said  Khan while addressing a business meeting organized by The Associated Chambers of Commerce and Industry of India (Assocham).

“Except the textiles sector, Pakistan has big interest in most of the sectors in India,” said Khan while he emphasized on regional supply chain that would help a long way to boost export in third country.

“Customs at both sides should act towards pro-trade and message should go to them from their Governments in this direction and it is also imperative to reduce the trade barriers,” said Khan while releasing an Assocham study titled ‘The SAFTA Experience: Drawing lessons for the ongoing FTAs.'

With a view to perk up the trade relations between both the countries, Assocham is willing to sponsor high-level business delegation to Pakistan in March 2014.

On its behalf, Assocham suggested that both India and Pakistan should explore the possibilities of joint ventures, setting up of factories, providing training to the skilled workers.

Assocham also suggested the Pakistan Commerce Minister that the small and medium enterprises’ (SMEs) sector in Pakistan may seek the help of their Indian counterparts as the SME sector plays significant role in sprucing up the production, manufacturing sector and creates massive number of jobs.

Further, the tourism sector holds tremendous potential and can play major role in strengthening the economic ties between the two countries.

Assocham also informed the Pakistan minister that Indian industry is willing to collaborate in in sectors like steel, power, renewable energy and others. “There is a huge scope in health sector, pharma, education in Pakistan where India can chip-in.”