KARACHI: Karachi Chamber of Commerce and Industry has proposed to form mediation/arbitration committee in Mumbai and Karachi to address the grievances of importers and exporters of Pakistan and India.
The six-members committee (3 members from each country) would evaluate the grievances of the importers/ exporters of the two countries and would address their grievances accordingly.
This should comprise Presidents of Karachi and Bombay Chamber or their nominees, Retired Judges; and Retired Customs Officials of Commissioner Level.
The proposal came from KCCI delegation headed by Zubair Motiwala, Chairman of Sindh Board of Investment, President of Pakistan-Afghanistan Joint Chamber of Commerce and Industry and ex-president KCCI.
He was accompanied by Vice Chairman Businessmen Group and former president KCCI Tahir Khaliq, President KCCI Muhammad Haroon Agar held a meeting with High Commissioner of India to Pakistan Sharat Sabharwal during his visit to Karachi, said a KCCI release here on Friday.
Exchanging views on Indo-Pak bilateral trade and relations with the Indian High Commissioner, Zubair Motiwala appreciated the positive moves by the Indo-Pak governments for strengthening commercial and economic ties during last several years.
He was of the opinion that the Indo-Pak reciprocal trade should be equally beneficial for the business communities of two countries.
He also recognized the efforts of Indian High Commissioner to promote bilateral trade between two countries. He hoped that 'negative list' will be dismantled and Pakistan will accord MFN status to India soon.
He was of the view that opening Indo-Pak cross-border trade from Khokrapar-Monabao Route on the pattern of Wagah-Attari will facilitate the business community of Sindh and Balochistan province. Adequate infrastructure, modern integrated check-posts and indispensable services be planned and implemented at earliest convenience.
He admired the initiative by Indian government to allow Pakistani investors apply for investment in India through Indian Board of Investment Promotion. He informed that an Indian company at Rajasthan border was interested to exploit Thar coal reserves of Pakistan for producing energy and provide electricity to Pakistan on barter-basis. He asserted upon the need of joint ventures and technology transfer of agro and food processing, particularly for dairy and milk products.
President KCCI Haroon Agar maintained that fostering the process of regional trade and Indo-Pak economic integration will alleviate poverty and bring prosperity in the region.
President KCCI also requested the Indian High Commissioner to invite Indian Chambers/ Trade Organizations and Exhibitors to participate in the KCCI's 10th International My-Karachi Exhibition scheduled to be organized from 5 to 7 July 2013 at Karachi Expo Centre.
He informed that in December 2012, KCCI organized two Indian Single Country Exhibition in collaboration with Synthetic and Rayon Textiles Export Promotion Council of India and Federation of Indian Export Organizations (FIEO).
Tahir Khaliq, Vice Chairman Businessmen Group and former president KCCI also exchanged views on the reciprocal trade between two countries.
The KCCI delegation during talks with Indian High Commissioner was satisfied to note the positive developments between two countries to uplift the commercial and economic activities vis-a-vis removal of non-tariff barriers, establishing banking channel, and joint ventures etc. They appreciated that the High Commissioner played important role in positive bilateral talks between two countries.
They were of the view that the Business and Industrial Communities on both sides have high expectations and willingness to improve trade hence the political affairs should not affect trade.
They anticipated that Khokrapar-Monabao Route will be opened soon for trade on the pattern of Wagah-Attari. To create milestone, they opined that both countries will have to demonstrate same greater political will to foster relations as shown in negotiations during last two years. They also stressed upon the need of frequent organizing of exhibitions and trade delegation.
High Commissioner of India to Pakistan, Sharat Sabharwal, speaking of Indo-Pak bilateral trade liberalization stated that both sides have to walk the last mile. He conversed that Indo Pak dialogues during last two years were satisfactory and subsequent developments will be beneficial for two countries.
After ratification by Indo-Pak Governments, new liberalized visa regime has been applied.
He was of the view that number of 137 items presently allowed to import from Indian via land route from Wagah should be enhanced.
He recognized the vibrant role of Karachi Chamber of Commerce and Industry in socio-economic progress of Pakistan and to provide proposals for Indo-Pak trade enhancement. He expected to further forge cooperation between KCCI and Indian High Commission on trade affairs.
He endorsed the support of the business communities of two countries to cooperate and push the two governments to move forward.
<Center><b><i>Copyright APP (Associated Press of Pakistan), 2013</b></i></center>
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