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SAARC nations keen to further trade ties with India

Press Trust of India  |  Amritsar 

SAARC nations are keen to further strengthen their trade relations with India by overcoming certain internal challenges.

South East Asia is a major consumer market and India had been the a supporter in all terms to which they always look upon.

These were the sentiments of visiting delegates of SAARC nations during the 'Buyer and Seller Meet on Trade Between South Asian Countries - Opportunities and Challenges' being organised by PHD Chambers under the aegis of PITEX 2016 here.

Afghanistan with delegates of 30 members are taking part in meet. Bangladesh with its 36 while Sri Lanka with 38 delegates are taking part in this five day long expo. Bhutan and Nepal are represented by 12 and 15 delegates respectively.

Welcoming the delegates, R S Sachdeva, Co-Chairman, Punjab Committee, PHDCCI said today the focus of exposition was promotion of bilateral trade relations and strengthening of global economic linkages with the participating SAARC countries.

According to Hassib Rahimi, CEO, Kabul Chamber of Commerce and Industry (KCCI), Afganistan has a trade deficit of 90 per cent where import is far more than exporting potential.

Country's possesses the consumer economy rather than manufacturing, he said.

Therefore, there is a plenty of opportunities not only for trading but also in form of investment, he said.

"Afganistan expects expertise and technology from India. Also, the recent change in the government policy has made Afghanistan more inclined toward to the economic oriented system than political one," he said.

In his deliverables, Kesang Wangi, Deputy Secretary General, Bhutan Chamber of Commerce and Industry who is participating second time in PITEX realized the importance of such platforms for building the economies of SAARC nations.

Business networking plays an important role in such forums, he said.

Bhutan import edible products to heavy machinery from India lieu of Hydel Power, he said.

"India is biggest business partner with Bhutan and Bhutan always look upon investing on their basic infrastructure," he said.

Wangi appealed fellow nation members for investments as Bhutan is open its economy for SAARC nations.

In his address, Mohd Abu Naser, Director, Federation of Bangladesh Chamber of Commerce and Industry said, "Bangladesh Govternment's 'Vision - 2021' will take Bangladesh to a middle income country by 2021 and developed country by 2041, therefore nation is keen to build healthy global trade".

Bangladesh has taken the 'Open Door Policy' for promoting Foreign Direct Investment (FDI), he said.

The private sector has been identified as the main vehicle for the development of the economy, he said adding that Country is working to establishing 100 Special Economic Zone (SEZs) across the country where investor can target both domestic and export market.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, December 08 2016. 22:22 IST