Trade Removal of NTBs stressed to improve Pak-India bilateral trade

Islamabad: Mr. S.M. Munir, President, Indo-Pak Chamber of Commerce & Industry visited Islamabad Chamber of Commerce & Industry to discuss various measures for further improving Pak-India bilateral trade.

He said that nontariff barriers were impeding the businessmen of both countries from promoting bilateral trade up to the potential and stressed that Pakistan and India should take urgent measures to remove all NTBs.

He said liberalizing trade relations with India would create many new business opportunities for entrepreneurs in Pakistan and also build confidence to Pakistan economy. He said Pakistan should consider granting early MFN status to India as it would greatly help increasing the trade between the two nations.

S.M. Munir assured that Indo-Pak Chamber of Commerce & Industry would play a positive role in bringing entrepreneurs of the two countries closer to explore all potential areas of mutual cooperation.

Speaking at the occasion, Zubair Ahmed Malik, President, Federation of Pakistan Chambers of Commerce & Industry said that improvement in trade relations between Pakistan and India would help in strengthening regional integration and uplifting the living standards of millions of poor people of this region. Therefore, it is high time that without wasting more time, both countries should focus on promoting commercial tries.

Zafar Bakhtawari, President, Islamabad Chamber of Commerce & Industry in his welcome address appreciated the efforts of Mr.S.M. Munir for improving trade relations between the two countries.

He said despite having disputes, trade relations between India and China were growing as their bilateral trade was over US$ 66billion during 2012 while both countries were aiming to take this figure to $ 100billion by 2015.

However, it is unfortunate that despite close proximity and common borders, Pak-India reciprocal trade was still below $ 3billion, which has the potential to reach $ 12billion within few years.

He stressed that moving forward, both countries should take concrete measures to eliminate barriers, simplify visa regimes, improve trade facilitation including transport infrastructure and harmonize customs regimes.

At this occasion, a cake was cut to celebrate the birth anniversary of Mr. S.M. Munir, President Indo-Pak Chamber of Commerce.

Chairman FPCCI Capital Office Mr. Hameed Akhtar Chadda, former ICCI President Mr. Munawar Mughal, Chairman Coordination Committee, FPCCI Capital Office Mr. Sheikh Abdul Razzaq, Chairman Diplomatic Affairs, Media & PR FPCCI Capital Office Malik Sohail Hussain and former Vice President FPCCI Mr. Zubair F. Tufail were also present at the occasion.

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