India-Pak bilateral trade can touch US$6bn by 2015

Backed by probability of Pakistan conferring the Most Favoured Nation (MFN) status on India, and phasing out of the negative list, bilateral trade between the two nations is likely to grow three-fold from the existing US$ 2 billion level to US$ 6 billion over the next three years, according to Federation of Indian Export Organisations (FIEO) President Rafiquee Ahmad 

 

Speaking at a meeting of FIEO and Lahore Chamber of Commerce and Industry (LCCI) in Lahore Mr. Ahmad said there is good opportunity in India for Pakistani entrepreneurs and they should exploit it.

 

LCCI President Mr. Ifthkhar said the two countries can spot areas of mutual economic cooperation, giving rise to joint ventures, technology sharing and outsourcing opportunities. He said presently Pakistan’s exports to India hardly sum up to one-sixth of what it directly imports from India.

 

The meeting was unanimous that infrastructure issues are impeding growth of trade between the two countries. Projecting land route as the most economical option, they said it costs much less to transport a container through Wagah border, rather than shipping it through Mumbai-Dubai-Karachi route. 

 

They said rather than getting more competitive, both the countries should try to find out ways and means to develop cooperation. Enhanced mutual ties between the two countries would extend necessary support to the South Asia Free Trade Zone, which would unleash new opportunities for other regional countries, they added.

 

Source: Fibre2fashion