Friendly neighbourhood: Faisalabad traders to organise fair in India

Three trade delegations will also visit neighbouring country.

FAISALABAD: The Faisalabad Chamber of Commerce and Industry (FCCI), encouraged by opening of trade between Pakistan and India, has decided to organise ‘Made in Faisalabad’ exhibition in Chandigarh, India next year and will also take three trade delegations from the city to the neighbouring country.

Giving details of the plan to the media here on Thursday, FCCI President Mian Zahid Aslam said first trade delegation would visit India in February next year, second in March and third in September.

Indian High Commissioner in Pakistan Sharat Sabharwal had promised cooperation and assistance in this connection during his visit to the FCCI on December 17.

Aslam pointed out that 60% of world trade was among regional countries and this provided encouragement to enhance trade with India – a bigger economy and market of 1.2 billion people which will be available to Pakistani manufacturers.

He expressed the hope that trade volume could be enhanced to $4-5 billion per annum from the current around $2 billion by formalising informal trade of $3 billion, which was going on through a third country, smuggling and personal baggage scheme.

With a new visa agreement, reduction in quantitative restrictions and non-tariff barriers and a level playing field for Pakistani industries in India, mutual trade would increase manifold in a short period of two to three years, he said.



He also saw potential for joint investment by the two sides in sectors like hi-tech, pharmaceutical, textile, agriculture, telecommunications, chemicals and automobiles.

Published in The Express Tribune, December 21^st, 2012.