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Trade Liberalization between Pakistan, India must move forward

Islamabad, January 29, 2013 (PPI-OT): Mr. S.M. Muneer, President of the India Pakistan Chamber of Commerce and Industry (IPCCI) has stated that the process of trade liberalization between Pakistan and India, which had managed to witness several milestones over the past two years, must continue to move forward, in order to establish long-lasting peace and stability in the region.

He said that the business community of both the countries had made great efforts to bring the two nations closer through trade, which was the only way of ensuring greater prosperity for the poor people of both countries. During the last two years, by way of enhanced interaction and coordination on different fronts, including the diplomatic front, and frequent visit of delegations by both government functionaries and private sector, both countries had made great progress.

He emphasized on the continuous ongoing effort for the promotion of bilateral trade and economic relations and the business community of both the countries have become optimistic to make use of the potential available in both the countries. Mr. S. M. Muneer further expressed his opinion that the bilateral trade between the two countries will eliminate the huge amount of poverty, thereby ultimately benefitting the common masses at large.

There were great hopes that the investment opportunities in both the countries would have been explored to maximum extent which would have helped overcome the shortage in various fields on both sides. On the other hand, the recent tension had led to unease among the businessmen of both sides and it was feared that trade relations may suffer which both the countries can not afford.

He further stated that the process of normalization of relations will lead to exploration of the huge trade potential for economic growth, and the prosperity of the entire region depends upon the better relations between India and Pakistan.

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,
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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