The leadership of Saarc Chamber of Commerce & Industry (Saarc CCI) has hailed the government of Pakistan for its decision to promote bilateral trade between India and Pakistan by allowing trade through Wagah-Attari road link and increasing number of tradable items with India.
Tariq Sayeed, President and Iftikhar Ali Malik, Vice President, Saarc CCI while responding to the decision of the Economic Co-ordination Committee (ECC) of the cabinet have regarded it as an encouraging development. The decision allowed the Ministry of Commerce to start bilateral trade with India through a proposal that had been backed by President Asif Zardari and Indian Prime Minister Manmohan Singh during a meeting in New York last September.
They said that the decision reflected positive and proactive approach of the current government towards India and added that it would help defusing political tension between the two major players of South Asia and will have positive impact on the regional economic co-operation. They hoped that government of India would also extend a welcoming reciprocation.
Tariq Sayeed, President Saarc CCI, also a former president of FPCCI was of the opinion that trade though Wagah-Attari border will not only foster the trade process but also save more than half of the freight charges. He said that permitting the Ministry of Commerce to increase the number of items traded between the two countries from the present 1,938 in a phased manner will commensurate with parallel development of infrastructure on both sides of the border.
Iftikhar Ali Malik, Vice President of Saarc CCI and former president of FPCCI said that the promotion of bilateral trade with India will not only facilitate the business community of Pakistan but also manage sizeable revenue for the government coupled with discouraging of illegal or third country trade.
They also appreciated the decision of Federal Board of Revenue for allowing 208 importable items on 100 percent duty free from Sri Lanka under the Free Trade Agreements, operational since June 2005.-PR