Indo-Pak trade: Businesses pin hopes on working group

ISLAMABAD: Former chairman Pak-Jammu and Kashmir Chamber of Commerce Zulfiqar Abbasi has expressed hope that the Pak-India working group will discuss an international banking system to improve bilateral trade, and put an end to the old system of barter trade. Talking to Voice of America, Zulfiqar Abbasi expressed concerns over decline in cross-border trade volumes on the Line of Control (LoC), starting from 2008. He said “At least 400 trucks traveled across the LoC weekly, which has now declined to 40 trucks. We have deep concerns in this regard.” He said trade between Pakistan and India cannot be expanded until the list of tradable items is increased. He added that all these matters must be discussed in the working group’s meetings, and decisions should be taken in the interest of people on both sides of the border.

Published in The Express Tribune, July 20^th, 2012.