Secretary Commerce Zafar Mahmood has assured the business community of approaching the Indian government to remove non-tariff barriers to boost bilateral trade between the two countries in a real sense. He was speaking at a dinner hosted by President Indo-Pak Chamber of Commerce and Industry (IPCCI) S M Muneer, here on Monday.
The Commerce Secretary said that the government had approved a negative list of trade with India in consultation with the business community and with an understanding to abolish both negative and positive lists by December 2012. He was optimistic that in the next 10 months, the local industries would be in a position to compete with their Indian counterparts.
About granting MFN status to India, the Secretary Commerce said that the decision was taken after several meetings with the business community to get their feedback. "All trade associations of the country agreed with the decision," he claimed. Mahmood further said that under the World Trade Organisation (WTO) rules, no state could restrict trade with any other country, but Pakistan had added Annexure G in its trade policy that allows trade with India in limited items. Chief Executive Trade Development Authority of Pakistan (TDAP) Tariq Iqbal Puri appreciated the role played by the Secretary Commerce in normalisation of trade with India. "Mahmood took all the stakeholders into confidence before initiating trade process with India," he added.
He expressed optimism that Pakistan exports would increase and goods manufactured in the country could be seen in the shelves of Indian shops. S M Muneer praised the way in which the Secretary Commerce handled the MFN issue. He said that Mahmood successfully removed all concerns of the business community in an effective way.
He hoped that Pakistani businessmen would fully exploit the potential of huge Indian market. Speaking on the occasion, Pakistan Businessmen and Intellectual Forum (PBIF) Chief Mian Zahid Hussain said that the business community was looking forward to exploit the Indian market and increase Pakistan's share in regional trade. He paid tributes to Zafar Mahmood and Tariq Puri for their untiring efforts to promote the country's exports. The newly elected President FPCCI A Q Sherani, Vice-President Shakeel Dhingra, and Ehtesham Uddin also attended the dinner.