राष्ट्रीय (15/11/2013) 
FICCI to hold India Show in Lahore in Feb. 2014 .....

NEW DELHI, November 15, 2013. FICCI is organizing the second edition of the India Show in Lahore from February 14 to 16, 2014, which would be a giant leap forward for bilateral economic relations of India and Pakistan.

  With recent developments and breakthroughs as well as an reinvigorated process of building consensus injecting a momentum in India-Pakistan economic ties, FICCI hosted a roundtable on India Pakistan Economic Relations The Next Milestone here today, to take forward the process of identifying the next leap that will take the bilateral economic relations to new heights. The initiative reinforces the commitment of the business fraternity of India and the Government towards furthering India-Pakistan economic relations.

  Mr. Arvind Mehta, Joint Secretary, Ministry of Commerce and Industry, Government of India, said that the road map for enhancing trade is in place and much progress has been made in the last two years. Pakistans trade with India has doubled in the last two years. The dialogue process needs to be uninterruptible and irreversible and under the SAFTA process both countries would bring down the duty level on 98% items to 0-5 % range.

  He added, If Pakistan grants non-discriminatory access to India, India will provide a reciprocal market access to Pakistan at a 0-5 % duty rate, similar to what is being given to Bangladesh. Pakistan should recognize that by delaying non-discriminatory access to India, it was losing out to Bangladesh

  Mr. Vikramjit Singh Sahney, President, SAARC Chamber of Commerce and Industry and Senior Executive Committee Member, FICCI, said, We need political will on both sides to take the trade relations to the next level. It would also be in the interest of business communities on both sides to make the best possible use of the growing economic opportunities. As a business community we must respond and rise to the occasion. In that context, there are areas of action that need our attention, He added that there is still lack of awareness in terms of each others product offerings. We at FICCI are committed to play our part in reducing this information gap.

  The roundtable coincided with the visit of a senior-level Pakistan business delegation to India led by Mr. Zubair Ahmed Malik, President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI).

  Mr. Malik addressed the roundtable. The other eminent speakers were Mr. Gulzar Firoz, Vice President, FPCCI; Mr. Naeem Anwar, Minister - Trade, High Commission for Pakistan and Ms. Ambika Sharma, Deputy Secretary General and Head-International, FICCI

  Indias apex business chamber, FICCI, has had a long association with FPCCI dating back to almost two decades and both have played an extremely vital role in injecting dynamism into the bilateral economic agenda of India and Pakistan. Both the partners are eyeing a bilateral trade exceeding US$ 7-8 billion per annum from the current US$ 2.7 billion.

  Moreover, Pakistan has switched over to a negative list trade regime, India has opened its doors to Pakistan FDI, an ICP has been set up at the Wagah- Attari border to facilitate smoother traffic in goods, the two neighbours have signed a gas sale purchase agreement (GSPA) for the $7.6-billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline and there are talks of opening bank branches in each others territories. All this has set the stage for a fresh burst of trading and commercial activities between India and Pakistan.

  However, FICCI has recommended grant of MFN status by Pakistan to India, an Investment Protocol between the two countries which is still non-existent, bridging the information gap in terms of each others product offerings, pursuing Track II engagement for improving understanding amongst the people on both sides of the border, easing restrictions on visas, opening of additional border crossings and increasing traffic frequency on the road through the Wagah border, improving banking facilities on both sides and investing in infrastructure development as potential areas for furthering our economic ties.

  Amidst continuing global economic woes, the two Asian economies desire to forge ahead and step up cooperation. Even as the West struggles to get its economy back on feet, the India and Pakistan are somewhat better positioned and are looking at climbing back on the high growth trajectory. India and Pakistan see SAFTA as a strong platform to drive this objective. To take this forward, FICCI in association with the SAARC Chamber of Commerce and Industry is also organizing the 5th SAARC Business Leaders Conclave and Made in SAARC Exhibition, an initiative by the private sectors of SAARC aimed at boosting trade, commerce and tourism in the SAARC region and establishing business links among industrialists and business communities of the region.

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