Saarc Chamber of Commerce and Industry (Saarc CCI), Pakistan chapter, on Saturday hailed the decision of ministry of commerce of Pakistan to allow import of over 100 items through land route from India through Wagha border. Appreciating the decision of the Pakistan government, VP Saarc CCI, Iftikhar Ali Malik said that there are a total of 6575 items on the custom tariff import list from India and out of which the import of 1940 items is allowed.
He was confident that this decision will help build confidence between the traders, importers and exporters of either countries. Ifitkhar said Indian importers could also contact their counterparts in Pakistan for products required in their country. He said that in case of shortage of any commodity, Pak importers could approach the federal ministry of commerce for import of that particular item through land route.
Moreover, he said that Saarc CCI, which represents 8 countries of the region is fully committed to promoting and strengthening mutual and bilateral trade among the members countries on the pattern of European Union. The intra-regional trade figures for South Asian states are disappointing as trade in the region constitutes only 1.4 per cent of the total world imports and 1.2 per cent of exports, whereas merchandise trade is only 27.9 per cent of GDP, the lowest in the world.
He said that World Development Indicators, revealed South Asia houses 1.4 billion worlds population thus representing a large workforce and tremendous business and investment opportunities. In addition, this area is rich in natural resources, which can make South Asia a hub of business activities-if properly used.
"Although South Asia has significantly reduced import tariffs, the cost of trading across its borders is one of the highest in the world", he said, adding that a number of non-tariff barriers have been identified which hamper trade and increase cost. Iftikhar Ali Malik said that SCCI, an apex organisation of Saarc and a representative of the private sector has been creating awareness about regional integration through various activities in the region and beyond.
He said Saarc CCI is committed to playing a pivotal role in deepening and widening economic and regional co-operation under Saarc. Saarc CCI has also supported the government-industry partnership and remained engaged in dialogue with governments of the Saarc region, he said.
Iftikhar stated that Saarc CCI was established in 1985 with the main agenda to promote regional and economic co-operation in South Asia, however, political tensions and development constraints that the region has faced over the years played a decelerating role in economic integration of South Asia.
He said that all out efforts would be made from the platform of Safta to build up confidence among the business communities of Pakistan and India. He concluded that all out efforts would be made to accelerate the process of economic and social development in South Asian countries.