A.Rafay
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KARACHI: A Joint Working Group (JWG) is being constituted by Pakistan and India and it will meet soon for deliberations on opening Khokhrapar-Munabao border and air connectivity between New Delhi and Islamabad.
Indian High Commissioner Sharat Sabharwal stated this during his visit to Karachi Chamber of Commerce and Industry (KCCI) on Thursday. He said fostering the process of regional trade and economic cooperation between Pakistan and India would bring peace and prosperity to the region.
He applauded steps taken by Pakistan and Indian to enhance bilateral economic and commercial cooperation and to promote peace and prosperity in the region.
He was of the view that excessive sea trade should be converted to land route via road and railways. New dedicated trade gate is being established near ceremonial gate at Wagah border to enhance trading hours up to 12 hours. Previously trading hours were up to five hours from Wagah ceremonial gate, which is also used by visitors.
First time, besides liberalising business visas, tourism visa is introduced in the new visa regime, which will be implemented after ratification by the government of Pakistan, he added.
On issues relating to non-tariff barriers, he said recently signed three agreements between two governments like customs cooperation, agreement on mutual recognition and redressal of grievances would be implemented after completion of all legal formalities to streamline bilateral trade.
The negative list will be dismantled by December 2012 thereafter likely there would be normalised World Trade Organisation trade regime, he maintained. India has reduced its South Asian Free Trade Area (SAFTA) sensitive list by 30 percent from 878 tariff lines to 614 tariff lines. Out of 264 tariff lines being removed, 155 tariff lines are pertaining to agriculture and 106 are related to textile items.
Upon full transition to most-favoured nation status for India by December 2012, India would thereafter bring its SAFTA sensitive list to 100 tariff lines by April 2013 and thereafter Pakistan after seeking the cabinets approval would also simultaneously bring down its sensitive list to a maximum of 100 tariff lines in next five years. He said Indian trade regulators met Pakistan businesspersons and had deliberations on bilateral trade issues.
He said pace of economic growth in South Asia was slow and intra-regional trade in South Asian Association for Regional Cooperation (SAARC) block was only 5.0 percent while in Association of Southeast Asian Nations, it was 25 percent and EU is about 65 percent.
Consequent to Indo-Pak bilateral talks and its progress, new synergies and opportunities will be created in the SAARC region.
Both countries have to walk the last mile to start moving towards preferential trade by the end of this year, two countries can create an enabling environment while the business communities have to explore new horizons for commercial cooperation, he concluded.
KCCI President Muhammad Haroon Agar recognised and commended efforts of the Indian high commissioner in this regard.
The KCCI firmly believes both countries will have to demonstrate same greater political will to foster relations as shown in negotiations during the last two years.
It is the need of the hour that both governments, besides opening new land routes should positively consider to resume operations of Air India and other private airlines for Pakistan.
The business community had welcomed the moves to establish banks branches to streamline business activities in respective countries and Indian government to allow Pakistani investors for investment in India. Implementation of agreements on customs cooperation, redressal of grievances and agreement of mutual recognition will bring the private sectors of the two countries closer to each other and strengthen business ties, he opined.
Two exhibitions are planned in Karachi with collaboration of Indian counterparts Intexpo Pakistan on November 30, and December 1, 2012 with Synthetic and Rayon Textiles Export Promotion Council of India and India Expo from December 21-23 at Expo Centre with Federation of Indian Export Organisations.
So we seek support of Indian high commission for the said exhibitions. One complete hall for Indian pavilion is also planned in 10th My-Karachi Exhibition being held from July 5-7, 2013.
Businessmen Group Chairman Siraj Kassam Teli said KCCI was in the process of forming Bombay-Karachi Joint Chamber of Commerce and Industry, which would act as the driving force to strengthen the trade ties.
The business community of Pakistan would avail more benefits from huge Indian market, he observed.
Indian High Commissioner Sharat Sabharwal stated this during his visit to Karachi Chamber of Commerce and Industry (KCCI) on Thursday. He said fostering the process of regional trade and economic cooperation between Pakistan and India would bring peace and prosperity to the region.
He applauded steps taken by Pakistan and Indian to enhance bilateral economic and commercial cooperation and to promote peace and prosperity in the region.
He was of the view that excessive sea trade should be converted to land route via road and railways. New dedicated trade gate is being established near ceremonial gate at Wagah border to enhance trading hours up to 12 hours. Previously trading hours were up to five hours from Wagah ceremonial gate, which is also used by visitors.
First time, besides liberalising business visas, tourism visa is introduced in the new visa regime, which will be implemented after ratification by the government of Pakistan, he added.
On issues relating to non-tariff barriers, he said recently signed three agreements between two governments like customs cooperation, agreement on mutual recognition and redressal of grievances would be implemented after completion of all legal formalities to streamline bilateral trade.
The negative list will be dismantled by December 2012 thereafter likely there would be normalised World Trade Organisation trade regime, he maintained. India has reduced its South Asian Free Trade Area (SAFTA) sensitive list by 30 percent from 878 tariff lines to 614 tariff lines. Out of 264 tariff lines being removed, 155 tariff lines are pertaining to agriculture and 106 are related to textile items.
Upon full transition to most-favoured nation status for India by December 2012, India would thereafter bring its SAFTA sensitive list to 100 tariff lines by April 2013 and thereafter Pakistan after seeking the cabinets approval would also simultaneously bring down its sensitive list to a maximum of 100 tariff lines in next five years. He said Indian trade regulators met Pakistan businesspersons and had deliberations on bilateral trade issues.
He said pace of economic growth in South Asia was slow and intra-regional trade in South Asian Association for Regional Cooperation (SAARC) block was only 5.0 percent while in Association of Southeast Asian Nations, it was 25 percent and EU is about 65 percent.
Consequent to Indo-Pak bilateral talks and its progress, new synergies and opportunities will be created in the SAARC region.
Both countries have to walk the last mile to start moving towards preferential trade by the end of this year, two countries can create an enabling environment while the business communities have to explore new horizons for commercial cooperation, he concluded.
KCCI President Muhammad Haroon Agar recognised and commended efforts of the Indian high commissioner in this regard.
The KCCI firmly believes both countries will have to demonstrate same greater political will to foster relations as shown in negotiations during the last two years.
It is the need of the hour that both governments, besides opening new land routes should positively consider to resume operations of Air India and other private airlines for Pakistan.
The business community had welcomed the moves to establish banks branches to streamline business activities in respective countries and Indian government to allow Pakistani investors for investment in India. Implementation of agreements on customs cooperation, redressal of grievances and agreement of mutual recognition will bring the private sectors of the two countries closer to each other and strengthen business ties, he opined.
Two exhibitions are planned in Karachi with collaboration of Indian counterparts Intexpo Pakistan on November 30, and December 1, 2012 with Synthetic and Rayon Textiles Export Promotion Council of India and India Expo from December 21-23 at Expo Centre with Federation of Indian Export Organisations.
So we seek support of Indian high commission for the said exhibitions. One complete hall for Indian pavilion is also planned in 10th My-Karachi Exhibition being held from July 5-7, 2013.
Businessmen Group Chairman Siraj Kassam Teli said KCCI was in the process of forming Bombay-Karachi Joint Chamber of Commerce and Industry, which would act as the driving force to strengthen the trade ties.
The business community of Pakistan would avail more benefits from huge Indian market, he observed.
