'Indo-Pak trade can increase to $10bln per annum'

Pakistan and India have the potential to increase bilateral trade from current 2.5 billion dollars to 10 billion dollars per annum.

MAP Services Group Managing Partner Huma Fakhar said that both the countries should also focus on expanding cooperation from 'goods' to 'services', and build capacity of public departments to facilitate the growth of trade to full potential.

The statement by Fakhar came while exchanging views with Islamabad Chamber of Commerce and Industry President Zafar Bakhtawari during her visit to ICCI on Tuesday.

According to the Daily Times, she briefed Bakhtawari about the activities of MAP and said the group is working on Indo-Pak Trade and Investment Project to promote trade and investment between the two countries.

She said that the group was in the process of setting up an Indo-Pak Trade Portal for SMEs and young entrepreneurs to help them in improving trade.

She said research and development, information technology, telecom, entertainment, agriculture, textile, pharmaceutical, automotive parts, light engineering and food packages were some of the potential areas of mutual cooperation between Pakistan and India, the report said.

She added that Pakistan's SME sector can also tap into knowledge economy of India.

She said that the best way to promote formal trade between the two countries was to make easy the trade procedures and processes.