ISLAMABAD - The leadership of SAARC Chamber of Commerce & Industry (SAARC CCI) has hailed the governments of Pakistan and India for exhibiting strong commitment to boost socio-economic cooperation by convening series of talks on politico-economic level, which will help boost the morale of entire South Asia.
Vikramjit Singh Sahney, the president of SAARC CCI, termed the recent and fast track development as a reflection of the seriousness of the leadership of both countries, which will ensure the accelerated economic cooperation between India and Pakistan .
“For last two years, much improvement has been witnessed on political and economic fronts, which has broken the inertia and re-energized South Asia to take coordinated efforts for the economic well-being of the people” said Sahney and hoped that by end of the current year, the Government of Pakistan will grant MFN status to India and adopt negative list approach allowing import of all items from India.
Tariq Sayeed, former president of SAARC CCI and FPCCI, also lauded the efforts of the both the governments and reiterated for continuation of talks and dialogues, regarding them as the strongest tools to address both softer and core issues. “Last two years are the golden years of the history of both countries as many milestones have been achieved i.e. considerable improvement in list of imported item from India from 1938 to 5600, ICP at Wagha Border, allowing investment to Pakistani enterprises by India, new Visa Policy and above all signing of trade agreements” said Sayeed.
Iftikhar Ali Malik, vice president SAARC CCI, said that implementation of the agreements related to customs cooperation, mutual recognition of required standards and the mechanism to address grievances will help boost trade between the two countries manifold and new visa policy will help deepen socio-economic integration of the society.
Iqbal Tabish, Secretary General SAARC CCI, said that the complete phasing out of the negative list and removal of non-tariff barriers (NTBs) by India will provide level play filed for both countries, however, based on comparative and absolute advantage Indian exporters will be greatly benefitted.”
No harm in open trade with India , as it would save $ 1.50 billion if such products not manufactured at all in Pakistan are imported from India “ said SG, SAARC CCI and added that discussion on issues of phasing out of a negative list and preferential arrangements under South Asia Free Trade Area (SAFTA) would help foster regional economic cooperation.