"Amicable relation between India and Pakistan is fundamental for strengthening South Asian Community and boosting intra-SAARC economic co-operation. However, a greater political-will shall be required by two major players to resolve political issues, which have been impeding the growth of the whole region for many decades."
This was stated by Tariq Sayeed, immediate Past President SAARC CCI during his special address at Conference on Indo-Pakistan Economic Co-operation: Challenges and Prospects held at New Delhi, India on November 24, 2010. "Being the major players, both India and Pakistan greatly influence the socio-political and economic scenario of the region and relations between them determine the fate of South Asia.
Therefore a huge responsibility lies on the respective Governments to transform the region into one of the dynamic hub of economic activities of the World through warmth of friendly relations" said Sayeed, also a former President of the Federation of Pakistan Chambers of Commerce & Industry.
While sharing some facts around the Globe, he regarded economic diplomacy as a powerful tool which had transformed the arch rivals like China-Taiwan, USA - Vietnam, China-India, Germany and France- into partners of growth and entwine them into combined force against the menace of unemployment, poverty and hunger, which have been the real enemies of the human being.
"The volume of trade between India and China estimated at $1.0 billion in the 1990s increased to tune of $60 billion after signing of the Sino-Indian Bilateral Peace and Tranquility Accords. Sixty-year old China-Taiwan fray ended up with agreement on direct air, sea and postal links on 4th November 2008 and helped vertical growth in their bilateral trade from $8.1 billion in 1991 to more than $150 billion in 2009.
Similarly USA- Vietnam rivalry ended with US-Vietnam Bilateral Trade Agreement on December 10, 2001 helped augment trade from less than 1.0 billion in 1990s, to $14 billion in 2009. USA is now the leading investor in Vietnam " said Sayeed and urged upon the Private Sector to play its due role to defuse political tension between India- Pakistan.-PR