New business visa agreement talks between Pakistan and India are in progress to help mitigate visa-related problems being faced by businessmen from both sides. Indian Deputy High Commissioner Manpreet Vohra told Lahore Chamber of Commerce and Industry members on Saturday that Pakistan and India were on higher side in economic terms despite several policy constraints.
"The trade volume between the two countries has been doubled as compared to last year, which is enough to believe in existence of enormous trade potential between the two countries," he said.
On the issue of the cement import from Pakistan, he said that there was never any restriction on import from Pakistan through land route. The Indian diplomat said India had the most modern CNG technology in the world, and this was a golden opportunity for Pakistan businessmen since Pakistan had become one of the leading CNG consumers.
He said that Pakistan's businessmen could enter into joint ventures with their Indian counterparts in several fields in which Indians are ahead and earning huge foreign exchange. He said that at the moment when the Indian government is making moves to convert the country into a global manufacturing hub, efforts were afoot to expedite business with neighbouring countries, including Pakistan.
Vohra said exchange of trade delegations and joint exhibitions were among the most modern techniques to increase bilateral businesses, and told the LCCI to arrange a delegation to India so that Pakistani businessmen could join hands with their Indian counterparts.
LCCI acting President Yaqoob Tahir Izhar said that trade among Saarc countries remained limited despite the fact that all were located in close proximity of one another and place in terms of area, population and natural resources.
He said that though many reasons exist for less trade among Saarc countries which include distrust among member countries and outstanding disputes among them. It is for these reasons that Safta, which became functional January 2006, had not come out of hot waters and failed to stimulate trade among Saarc countries to the desired level.
He said that the strategic location of Pakistan and India is recognised as ideal in the world. The enhanced business and trade ties between the adjacent states could help end poverty from this region. It would not only give them prominence but also provide leverage to play a global role.
He said Pakistan's exports to India comprise mainly vegetables and fruits, textile yarn and fabrics, rice, leather & leather products, petroleum crude and sugar refined, whereas important items being imported from India include organic chemicals, oilcake residue of soyabeans, plastic in primary form, iron ore agglomerated, dyeing, tanning materials, rubber manufacturers, tea, cardamom large, bidi leaves, ginger, betel leaves, iron and steel and special machinery for particular industry.
He said Indian companies could come forward by entering into joint ventures in 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 Vice President Mubasher Sheikh, LCCI standing committee on customs and tariff chairman Aftab Ahmad Vohar, Sohail Lashari, Mohammad Ali Mian, Mohammad Arshad and Jamil Mehboob Magoon also spoke.
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