Pak-Afghan Chamber gets its first president

Joint body to help double bilateral trade in next 3 years.

KARACHI:

The Pak-Afghan Joint Chamber of Commerce and Industry (PAJCCI), the first-ever step taken by private sectors of the two countries to strengthen economic ties, on Tuesday chose its first president from Pakistan and co-president from Afghanistan.

They were appointed in the first board meeting of the chamber, held after a press conference, which was addressed by leading businesspersons.

PAJCCI is an initiative of the Afghan Chamber of Commerce and Industry (ACCI) and three chambers of Pakistan with the support of governments of the two countries in an attempt to boost trade and commerce.

The three Pakistani chambers are Karachi Chamber of Commerce and Industry (KCCI), Khyber-Pakhtunkhwa Chamber of Commerce and Industry (KPCCI) and Chaman Chamber of Commerce and Industry (CCCI).

Addressing the press conference, PAJCCI President Zubair Motiwala said the initiative had all the support of the private sector and the government of Pakistan.

On the issue of smuggling under Pakistan-Afghanistan Transit Trade Agreement, Motiwala said “the business community of both countries wants to discourage smuggling. Before making this venture, the business community has thoroughly discussed the smuggling issue over the last two years and reached some results.”

According to rough estimates, smuggling under the garb of transit trade causes annual loss of $2-2.5 billion to Pakistan’s economy.

Motiwala hoped that the joint chamber would help boost bilateral trade, which would reach $6 billion from the current $3 billion in the next three years.

He rejected a question over legality of the chamber, saying the Ministry of Commerce had already approved a licence for the body.

PAJCCI Co-President Khan Jan Alokozai stressed the need for strong economic links between Pakistan and Afghanistan. “Trade and commerce is in the interest of both countries,” he said.

KCCI President Mian Abrar Ahmed said Pakistan and Afghanistan should concentrate on regional trade, which would lead to economic independence that was necessary for the two countries.

He called for cooperation on railway links in order to shift the burden of road transport to the economically viable mode.

Officials familiar with the initiative said much of the financing for the chamber had been provided by the United Kingdom. The money will be released in a couple of phases over the next three years.

The Centre for International Private Enterprise (CIPE) has played an important role in facilitating the establishment of the chamber through technical support. Pakistani businessmen are confident that improved trade relations with Afghanistan will not only help the landlocked neighbour, but will also give them a strong platform to step up exports to Central Asia via Afghanistan.

Published in The Express Tribune, March 14^th, 2012.