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President Federation of Pakistan Chambers of Commerce and Industry hails ‘Zero Point Border Market’ proposed by World Bank

Islamabad, July 19, 2013 (PPI-OT): Mr. Zubair Ahmed Malik, President of the Federation of Pakistan Chambers of Commerce and Industry has hailed the World Bank’s proposal to develop a Zero Point Border Market at Wagah border, which would allow the businessmen from India and Pakistan to meet without any visa requirements.

He urged the concerned authorities to take action in this regard at the earliest, saying that if this proposal is implemented then it will go a long way in expanding bilateral trade between the two countries, which is currently stands at US$ 2.4 billion of which imports from India stand at $1.8 billion and exports to India are just $500 million.

The World Bank has offered to develop a Zero Point Border Market at Wagah with state of art infrastructure and facilities, which will help in loading and unloading of goods and customs clearance on Pakistan’s side. Businessmen from both countries will also have an opportunity to meet each other without the need to apply for visas, since this will be built in a “no man’s land” area.

Mr. Zubair Malik said that Pakistan and India have made some notable progress for normalization of trade and investment relations during the last few years, but the delay in issuance of visa to genuine businessmen remains a hindrance in realizing the true benefits of trade liberalization. He further added that the India and Pakistan both need to have a level-playing field for trade instead of reluctance and hesitation from each other for building a long term relationship.

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: 0092-21-35873691, 93-94
Fax: +9221 3587 4332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk

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