The Lahore Chamber of Commerce and Industry (LCCI) and the Punjab-Haryana-Delhi Chamber of Commerce and Industry (PHDCCI) have decided to form a joint committee that will make efforts to promote Indo-Pak business and trade relations. The 12-member committee will have six members each from the LCCI and the PHDCCI. The body would meet once in every two months and find out ways and means for more business between the two countries.
The decision to this effect was taken at a joint meeting between the LCCI and PHDCCI here on Tuesday. PHDCCI President Ravi Wig led the Indian delegation. LCCI President Mian Misbah-ur-Rehman, Senior Vice-President Sohail Lashari, Vice-President Sheikh Mohammad Arshad, and others accorded a warm welcome to the Indian delegation members.
The LCCI chief also proposed formation of a committee on the cottage industry of the two countries, besides urging the businessmen from both the sides to make their moves fast for betterment of the people of the region.
Ravi Wig said there was a need for restoring missing links so as to promote business between the two countries. The LCCI chief said the strategic location of Pakistan and India was recognised as an ideal one in the world, adding the enhanced business and trade ties between the two adjacent states could help end poverty from this region.
He said it would not only give them prominence, but also provide leverage to play a global role, adding, at present, the bilateral trade between Pakistan and India ranges from $300 million to $400 million with trade balance heavily in favour of India.
Pakistan exported goods worth $93.7 million to India in 2003-04 as against the import of $382.6 million, he added
The LCCI chief said Indian companies could come forward by entering into joint ventures in the fields of software development, telecommunication, information technology, computer engineering, bio-technology, light engineering, foundry machinery items, metallurgy, precious and semi precious gemstones, value-added textiles, leather, sports goods, surgical instruments, and petrochemicals.
LCCI Senior Vice President Sohail Lashari proposed formation of joint committee on tourism to bring the people of two countries closer, and also proposed for holding of joint exhibitions for the promotion of business.
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