India Delegation visits FPCCI: Banking Channel is essential for Indo-Pak Trade


Karachi (PR): The bilateral trade and economic development process will continue irrespective of political differences between Pakistan and India as the business fraternity of India has great affection for Pakistan  is considered her as a potential country. This was stated by Mr Arun Kumar Saxena leader of Indian Delegation during his meeting with the members of  FPCCI at Federation House Karachi  attended by large members including Mr. S.M. Muneer President India Pakistan CCI and FPCCI Vice President Mir Naveed Jan Baloch,

While speaking on the occasion he emphasized on the need of establishment of banking channels between the two countries which is essential to burgeon bilateral trade and eliminate the uncertainty between the business community of India and Pakistan.

He also highlighted the activities of Confederation of Indian Industry who has direct and indirect 30000 membership from different sectors is determined to intensify interaction between the business community and indentify new areas of joint ventures. He offered that Pakistan should make use of the expertise of India in IT sectors, food processing particularly sea food, CNG cylinder, agri products particularly pesticide, pharmaceuticals, automobile, artificial jewellery etc while Pakistan has great advantage in textile, leather, sports goods, surgical items, wooden furniture etc.   he also invited Pakistani companies for participation in a Trade Fair being organized by CII from 9 – 10 October 2013. He also suggested that on the boarder of waga there should be a meeting place where business community could meet each other without any visa requirement.

While welcoming the delegation Mr. Zubair Ahmed Malik, the President of FPCCI said that FPCCI also considers India a great potential market and for its exploration FPCCI has made aggressive plan of activities including visiting of trade delegation, participation in trade fairs and organizing solo exhibitions in India with the most recent example being his participation in the Global Economic Summit held in Mumbai this week. He said that there are numerous areas where both the countries can collaborate, including sports goods, surgical instruments, gemstones, textile and leather. He further informed that FPCCI is also organizing Pakistan’s official participation in India International Trade Fair at Delhi to be held from 14 – 27 November 2013 and Pakistan Solo Exhibition in the first quarter of 2014.

He further added that  India and Pakistan both needs level-playing for win win situation, long term relationship and prospects of South  Asia region.

Mr. S M Muneer, President of the India-Pakistan Chamber of Commerce and Industry highlighted the function of India-Pakistan Chambers of Commerce and Industry and its contribution in progress of bilateral trade and economic relations between the two countries over the past years. He pointed out some areas which were worthy of the attention of both countries, such as high duties on textile, leather and food items in India, limited flights between the two countries, inefficiency in the rail service etc. He further stated that the business community of both the countries are of the firm belief that normalization of trade and economic relations would create a conducive situation bringing substantial benefits to both the countries for peace and stability and strengthen their economy and reduce unnecessary political tension which will also bring about a great deal of improvement in the entire region. He pointed out that there is need of further progress on some issues without any delay, such as opening a banking channel on reciprocal basis and opening new trading land routes along the border.

Mr. Naeem Anwar Minister Trade also spoke on the occasion and suggested for close interaction between the business community.