Indo-Pak MPs resolve to boost economic ties
19 January, 2012
ISLAMABAD: Parliamentarians from Pakistan and India expressed their resolve to use the third round of dialogue to enhance trade and economic relations between the two countries. The two-day dialogue session concluded here on Wednesday, with the two previous constructive parliamentary dialogues held in January 2011 in Islamabad and August 2011 in New Delhi. Parliamentarians recognised that many broader issues of bilateral relationship between the countries had been discussed during the first and second rounds of dialogue. They decided that this third dialogue should be primarily devoted to trade and economic relations between the countries. In this context, the catalytic role of parliamentarians to encourage policy makers to take all necessary measures for realising what the commerce ministers had recognised, as "full normalisation of commercial relationship between the two countries, to strengthen bilateral relationship and build the bridges of friendship, trust and understanding – for the mutual benefit of their people and promotion of prosperity in South Asia," was reiterated. There was general agreement that strengthening of trade relations must be viewed in the wider context of trade as the engine of growth, its welfare-enhancing multiplier effects which improve overall life quality and confer welfare benefits to both countries. While bilateral trade during the last three years increased from just over $1.8 billion in 2008-09 to $2.6 billion in 2010-11, the potential was indeed much greater. The commerce ministers had envisaged enhancing bilateral trade from $2.6 billion to $6 billion within three years. Parliamentarians from both sided urged the implementation of the Memorandum of Understanding (MoU) between India Trade Promotion Organisation and the Trade Development Authority of Pakistan, agreed upon by the commerce ministers. The parliamentarians asked to evolve an actionable roadmap to broaden the relationship in the context of the plan and objectives set out by both governments. The parliamentarians of both countries recommended that the current initiatives to complete the transition from the current positive-list approach to a small negative list should be finalised and ratified by end February 2012 and in the second stage, to further phase-out the negative list by end 2012. Other recommendations included completion of the process to seek preferential trade agreements within the framework of South Asian Free Trade Agreement (SAFTA), and that the Joint Technical Group for improving physical infrastructure should complete its exercise by the end of February 2012. Participants also called for both governments to undertake appropriate measures for minimising sector-specific barriers as well as foster dialogue between regulatory bodies of both sides. The participants further called for trade-facilitation measures, harmonisation of customs procedures, an early Investment Protection Treaty, linkages between private sector organisations, enhancing trade in textiles, electronics and information technology, opening bank branches in each other's countries and cross-border listing of stock indices and financial instruments. A "Comprehensive Economic Framework" for cooperation, improving infrastructure for new air, sea, road and rail routes was also urged with a focus on also encouraging tourism, sports, youth and cultural exchanges. Meanwhile, Prime Minister Yousaf Raza Gilani while addressing a delegation of Indian parliamentarians, which called on him at the Prime Minister's House, has said that his government is committed to a constructive, sustained and result-oriented process of engagement with India, and that meetings between Indo-Pak officials in the recent past have helped reduce trust deficit between the two countries. He said Pakistan wanted a just, peaceful and negotiated settlement of the Jammu and Kashmir issue. The delegation is currently on a tour of Pakistan to exchange views with their counterparts under the banner of PILDAT. The PM recalled his meetings with Indian Prime Minister Manmohan Singh in Sharm el Sheikh, Thimpu, Mohali and Maldives on the sidelines of the SAARC Summit. Mentioning his visit to Mohali, Gilani said his interactions with Indian officials created an environment that paved the way for a meaningful dialogue process. Earlier, speaking on the occasion, former union minister and Indian National Congress leader Mani Shankar Aiyar, and BJP leader Yashwant Sinha thanked the PM for his warm hospitality. They opined that uninterrupted dialogue could bring durable peace and stability in both the countries, which could entitle both prime ministers for the Nobel Peace Prize. They said the Indian prime minister had rightly said that Yousaf Raza Gilani was a man of peace. The PM responded by saying that in the context of Pakistani politics, he was a man of crisis. They said they had observed a complete transformation in the country in terms of "friendly and hospitable environment" as compared to their last visit in January 2011. Members of the delegation said there was a vast potential of trade between both the countries that could touch the figure of $15 billion instead of the current $2 billion. Pakistani and Indian parliamentarians also handed over a joint parliamentary resolution to the PM on the occasion. The Indian parliamentary delegation consisted of Mani Shankar Aiyar, Derek O Brien, Naresh Gujral, Satish Chandra Mishra and Sitaram Yechury from Rajya Sabha (Upper House) and Yashwant Sinha, Asaduddin Owalsi, Baijayant Jay Panda, Dasgupta Gurudas, Hamdullah Sayeed, Harsimrat Kaur Badal, Shatrughan Prasad Sinha, Supriya Sadanad Sule, Raghuvansh Prasad Singh and Tathagata Sathpathy from Lok Sabha (Lower House). The Pakistani parliamentary delegation consisted of Jan Muhammad Jamali, Senator SM Zafar, Senator Salim Saifullah Khan, Commerce Minister Makhdoom Amin Faheem, Defence Minister Chaudhry Ahmad Mukhtar, Foreign Minister Hina Rabbani Khar, National Food Security and Research Minister Israrullah Zehri, Minister for Oversees Pakistanis Dr Farooq Sattar, Minister for Professional and Technical Training Mian Riaz Hussain Pirzada, National Assembly Deputy Speaker Faisal Karim Kundi and MNAs Qamar Zaman Kaira, Asma Arbab Alamgir, Asfanyar Wali Khan, Haji Munir Khan Orakzai, Kashmala Tariq, Bushra Gohar, Maulana Muhammad Qasim, Aftab Ahmad Khan Sherpao and Gulam Murtaza Khan Jatoi. PILDAT officials including Executive Director Ahmed Bilal Mehboob, Aaisya Riaz, Wajiha Kanwal and Hammal Dostain were also present on the occasion. End.
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