SAARC Chamber of Commerce and Industry has termed the 5th round of secretary-level talks between Pakistan and India to push commercial ties a step in the right direction.
Local business community as well as traders across the Saarc region are very encouraged by the development, it said.
This bold initiative after successful cricket diplomacy was needed because the other countries of the grouping cannot grow unless relations are normalised between the two most important nations, said Vice President Saarc CCI Iftikhar Ali Malik.
Speaking at a meeting here at Saarc Secretariat, he said that Pakistan should accord Most Favoured Nation (MFN) status to India while they should remove barriers to create an enabling environment for trade.
The two countries also need to discuss a bilateral preferential treaty to boost economic growth aimed at reducing poverty, he said adding that only economic engagement can bar undesirable conflicts.
Iftikhar Ali Malik said that Pakistan and India should develop more routes for passengers and freight traffic to build trust. It will boost Pakistan’s economy with textile and cement sector major beneficiary which is the backbone of our economy and largest urban employment provider, he said.
He welcome the understandings reached during the talks and lauded the decision of the negotiators to boost engagement between the private sectors of the two countries which will go a long way to improve confidence level, dispel misunderstandings and allay misapprehensions.
Malik demanded to include private sector representatives in the group of experts to trade electricity, petroleum products, Bt. cotton seeds etc, adding that we should share energy, water, research and commodities.
He informed that he would lead a 40-member delegation of Dhaka to participate in Saarc CCI meeting scheduled on May 16 to find out ways to increase intra-Saarc trade which is presently below 5 per cent.
“We are will meet president of prime minister of Bangladesh with to boost bilateral trade and cooperation,” he said.
Iftikhar Ali Malik further said that it has been decided to establish permanent head quarter of Saarc CCI in Islamabad.
At the occasion, Malik Sohail Hussain, Chairman Media, FPCCI said that Pakistan and India should help develop each other so that who region could be developed which is home to majority of global population.
No spectacular decisions were made in talks due to political differences but the move will help improve the environment to achieve greater goal of prosperity, he said.
Poverty reduction is impossible until normalisation of relations so that they can spend properly on health and education, he said adding that cordial relations are in the interest of all stakeholders, said Malik Sohail.
India should remove excessive red tape on Pakistani exports after which Islamabad will be obliged to grant MFN status to New Delhi, he said.
