Indo-Pak private sectors to keep pace with political development

[Salman]

Indo-Pak private sectors to keep pace with political development

KARACHI: Pakistan and India are making headway to improve bilateral relations on political fronts while 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 relations between India and Pakistan and perceive the recent meeting between President Asif Zardari and Indian Prime Minister Dr Manmohan Singh as the commencement of new era in the history of Pakistan and India,” said SAARC Chamber of Commerce and Industry (SAARC CCI) Vice President Iftikhar Ali Malik.

Before leaving for New Delhi to attend Pakistan Lifestyle Show organised by Trade Development Authority of Pakistan (TDAP) in partnership with the Federation of Indian Chambers of Commerce and Industry, he hoped in the forthcoming commerce secretary level talks would announce the implementation 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 entries and 10-cities visa on reciprocal basis.

In the ongoing era of globalisation, shared vision, technology transfer and investment in mutually interested areas should be the key elements of bilateral negotiations, which would help generate employment opportunities, curtail poverty and deepen ties, he added.

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

Former SAARC CCI and FPCCI president Tariq Sayeed said the private sectors of both the countries are making their best possible efforts to deepen the bilateral relations through improved trade relations, joint venture initiatives and investment in mutually interested areas.