Indo-Pak chamber of commerce to be formed

Chamber seeks to boost trade and mitigate visa issues.

KARACHI: A cooperation agreement to establish the Bombay-Karachi Joint Chamber of Commerce and Industry was signed during a visit by an Indian delegation to the Karachi Chamber of Commerce and Industry on Monday to boost bilateral trade.

“KCCI and Bombay Chamber of Commerce and Industry (BCCI) have signed a historic cooperation agreement to establish the Bombay-Karachi Joint Chamber of Commerce & Industry which will prove a vital step forward for India and Pakistan in promoting bilateral business and economic ties,” said KCCI Vice President Junaid Makda in a statement.

Bombay Chamber of Commerce and Industry President Ashok Barat and Makda had signed the agreement on 15th July in Mumbai, after talks were held between the commerce secretaries of both the countries in April.

Speaking at the occasion, Barat reiterated the need for taking effective and practical steps for boosting commercial ties between India and Pakistan. Makda reciprocated the sentiment, articulating that businesses can forge lasting and mutually beneficial relationships more than anything else.

It was also a growing demand by the business communities of the two countries that a joint body should be formed to address the visa issues businessmen face.

A draft of the cooperation agreement was forwarded to Pakistan Commerce Secretary Zafar Mahmood.

Published in The Express Tribune, August 16^th, 2011.