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Indo-Pakistan relations: Private Sector gears up to keep pace with political development

Islamabad: While the India and Pakistan are making headways to improve bilateral relations on political fronts, the Private Sector is geared up to practically demonstrate its potential to unleash the economic potential.

“We are committed to keep pace with the recent development in bilateral relation between India and Pakistan and perceive the recent meet between President Asif Ali Zardari and Indian Prime Minister Dr. Manmohan Singh as the commencement of new era in the history of Pakistan and India.”

This was stated Mr. Iftikhar Ali Malik, Vice President of SAARC Chamber of Commerce and Industry (SAARC CCI) and former President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) before leaving for New Delhi to attend “Pakistan Life Style Show” to be organized by TDAP in partnership with the Federation of Indian Chambers of Commerce and Industry, the nodal point of SAARC CCI in India. The Life Style Exhibition will be inaugurated by Amin Fahim, Senior Minister of Commerce, Pakistan.

Mr. Tariq Sayeed, former President of SAARC CCI and FPCCI who is representing FPCCI said that the Private Sectors of the both countries are making their best possible efforts to deepen the bilateral relation through improved trade relations, joint Venture initiatives and investment in mutually interested areas. “The exhibitions like Pakistan Life Style Show, need to be organized frequently to exhibit the export potential of Pakistani products in huge market of India” said Mr. Sayeed.

Mr. Iftikhar Ali expressed his hope that in the forthcoming Commerce Secretary level talks will announce the implement of four important agreements including Mutual Recognition of certificates on standards, Customs agreement on trade procedures, Grievance reversal agreement to resolve business disputes and Implementation of Flexible Bilateral Visa regime, promising for issuance of one-year multiple entry and 10- cities Visa on reciprocal basis. In the ongoing era of Globalization, shared vision, technology transfer and investment in mutually interested areas should be the key elements of bilateral negotiations, which will help generate employment opportunities, curtail poverty and deepen ties.

“The private sector awaits anxiously the announcement as well as early implementation of flexible Visa regime, which in indeed required to break the inertia, hampering the free movement of business persons” said Iqbal Tabish, Secretary General of SAARC CCI and an expert on South Asian Trade who quantifies the immediate impact of millions of dollars in trade between two neighbouring countries.

Nearly 100 Pakistani firms, including the country’s top brands and fashion outlets and more than 100 delegates including 25 members of SAARC CCI are taking part in the four-day event starting from April 12-15, 2012 in the capital city of India.

For more information, contact:
Syed Masood Alam Rizvi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road, Shahra-e-Firdousi,
Karachi-75600, Pakistan
Tel: +9221 3587 3691
Fax: +9221 3587 4332
Email: info@fpcci.com.pk

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