Pakistan has cancelled a grand trade fair that was to be held in New Delhi, owing to heightening tension between two neighbouring countries due to Indian blame game in the wake of Uri attack. Chief Executive of Trade Development Authority of Pakistan (TDAP) SM Muneer told Business Recorder that third edition of mega exhibition- Aalishan Pakistan 2016 would not be held as per schedule.
"We are left with no choice but to cancel the event due to tense political situation. It will be highly risky if we send any delegations to India in current circumstances," he said adding that TDAP would hold the event, if business-friendly environment is restored. The 3rd edition of the grand fair was planned to be held in September or in October this year in New Delhi. Previously, TDAP had successfully held two additions of Lifestyle Pakistan exhibition 'Aalishan Pakistan' in the Indian capital. The exhibitions were the true showcase of the progressive Pakistan with first-ever collective presence of the country's top brands anywhere in the world, according to traders.
SM Muneer said that in 2014, we sold products worth Rs 900 million while traders of the two countries also signed many MoUs. He said the cancellation of 'Aalishan Pakistan 2016' would adversely affect the two way trade.
"We cannot economically prosper without peace and tranquility in the region. Business and politics should be separated from each other. Political interference into business would lead negative impact on socio-economic life and growth," he said. To a query he said, the two-way trade between Pakistan and India continued to decline and presently it barely stood below $3 billion despite huge potential. According to Indian official figures bilateral trade volume was over $2.61 billion in which Indian exports amounted more than $2.17 billion and Pakistan's export to India was $441 million during 2015-16.
According to TDAP officials, Pakistan had generated around $1.5 million through 'Aalishan Pakistan,' in September 2014 in New Delhi. The response from Indian trade community as well as consumers was overwhelming and around 500,000 people visited the event. More than 135 exhibitors with 270 stalls showcased their products. The high-end retailer brands including Khaadi, Sana Safinaaz, Kayseria, Sharique Textiles, Lala Textiles, and Needle Impressions also participated.