ISLAMABAD: President Pakistan India Chamber of Commerce S.M. Muneer has said that it is good news that Pakistan and India have agreed on some points in a bid to enhance bilateral trade.
Talking to Radio Pakistan, he congratulated Pakistan for positively moving in trade ties with India, saying that through this, Pakistan economy especially industrial sector would boost.
Regarding the solution of other issues with India, Muneer said that mutual trade should be promoted at any cost, adding that in this regard politics should be separated from trade ties between the two countries.
Muneer added that points on which both countries agreed are all laudable especially opening of Wagah border for mutual trade.
He said both the countries will benefit from the understanding reached between the two countries.
He said Pakistan will get an access to a huge Indian market.
He said it was also decided that branches of Indian and Pakistani banks will be opened on each other’s soil. He termed it a good decision.
He said previously, the visas were issued for one-to-two months and for three cities. Now the bonafide businessmen will get a visa for one year and for ten cities.
Taking part in the programme, analyst Dr. Muhammad Khan said that Pak-India joint communiqu? is a positive development.
He said Prime Minister Nawaz Sharif during his meeting with Indian counterpart in September last year decided to boost bilateral trade.
He said Pak-India commerce ministers also decided to enhance volume of trade between the two countries.
He stressed the need to reduce trade barriers between the two countries. He said political stability is necessary for promotion of bilateral trade.
Former Finance Minister and Economist Shaukat Tareen said SAARC countries are doing hardly 5% regional trade, which is very low.
He said we have to remove non-trade barriers between Pakistan and India. He said ASEAN and European Union are doing more than 35% of regional trade.
Indian Journalist Nilofar Soharwardi said the Pak-India trade ministers agreed to take number of steps to enhance bilateral trade.
She said opening of 24-hour customs post at the border and setting up bank branches in both countries will greatly help increase bilateral trade.
She said the trade between Pakistan and India will help reduce poverty in both countries and lead to economic development and resolution of political issues.