Pakistan News Service

Sunday Apr 20, 2014, Jumada-al-thani 19, 1435 Hijri
Logo
Main News Business & Economy Stock & Bond Editorials Cotton & Textiles Agriculture & Allied Fuel & Energy Taxiation Company News

Resistance in Trade with India

13 December, 2013

Islamabad: Minister of State for Commerce and Textile Industry Khurram Dastgir Khan said that ‘stakeholders' in Pakistan are not in favor of free trade with India.

  More on this

Islamabad: Minister of State for Commerce and Textile Industry Khurram Dastgir Khan said that ‘stakeholders' in Pakistan are not in favor of free trade with India.

Addressing the 30th anniversary lecture event organized by the Sustainable Development Policy Institute (SDPI) and CUTS International, Mr Khan advocated closer trade links with the neighbouring country, asserting that even a 10 per cent share in Indian market will boost the local economy.

He emphasized the need for India to remove the non-tariff barriers, saying that trade will create inter-dependency that will ultimately lead to peace.

CUTS International Secretary General Pradeep S. Mehta said that bilateral trade between the two countries was currently far below from where it ideally should be. "There is ample evidence to suggest underutilisation of trade opportunities that exist between India and Pakistan," he said.

He believed that facilitation could triple the current volume of bilateral trade to $12bn a year.

Indian High Commissioner to Pakistan Dr Raghavan briefly spoke about the importance of Pakistan-India relationship. He said effective collaboration between the two countries would be mutually beneficial.

He emphasized the need for longer trading hours, opening of more border crossing points and that all trading points should be opened for all trading items.

Pakistan-India CEOs' Business Forum President Amin Hashwani highlighted the need to privatize the peace process. According to him, businesses did not have baggage and they could be effective problem solvers. He advised both governments to take businessmen on board for swift progress.

He floated the idea of a regional cricket team, one that comprises Indian and Pakistani players.

Islamabad Chamber of Commerce and Industry President Shaban Khalid mentioned that the business community is excited about the future. Pakistan former Joint Chief Economist Aqdas Ali Kazmi spoke about the non-tariff barriers, urging India to provide level-playing field to Pakistan.

End.


 
Suggested Sites