Business community has once again started struggle to boost trade between Pakistan and India as three Indian trade delegations are expected to visit Pakistan in November and December and one Pakistani delegation will visit India next month. Two Indian delegations of Southern Gujarat Chamber of Commerce and Industry (SGCCI), Surat and IRIOC (Indian Research Organisation) are already in Pakistan holding meetings with trade bodies.
During a recent visit of FPCCI delegation to India, both the sides agreed to make joint efforts to increase trade and approach their respective governments to open bank braches in each other country. They also agreed that non existence of respective bank branches in Pakistan and India is one of the major hurdle in opening L/C.
During the visit Pak delegation held meetings with Federation of Indian Chambers of Commerce and Industry (FICCI), Confederation of Indian Industries (CII), Punjab Haryana Delhi Chamber of Commerce and Indian Micro small medium enterprise and discussed issues of mutual interest. The Pakistan delegation especially mentioned the NTBs (non-tariff barriers) being imposed by the India to block smooth flow of Pakistan's export into India. Both the sides have agreed that NTBs are hurdle in the way of trade and they must be lifted.
Delegation of SGCCI is likely to sign a Memorandum of Understanding (MoU) on cooperation with Karachi Chamber of Commerce and Industry (KCCI) on Wednesday Vice President FPCCI, Gulzar Feroz said the IRIOC, Indian delegation is now in Karachi and held a meeting with FPCCI where the group presented their recommendations on NTBs, banking, textile and agriculture.
These recommendations will be printed in book form and be presented to both the governments for consideration and implantation. He said that Indians are willing to increase trade with Pakistan in a big way but non existing banking channel is hurting this desire. He said that both the countries should have proper trade relations and in this regard bank branches should be opened in each other's domain. He said that the two neighbouring countries should not mix trade with politics and business community should be allowed to carry on trade without hurdles.
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