From 2010 to 2012, annual bilateral trade was $1.83 billion, $1.88 billion and $1.92 billion respectively. CREATIVE COMMONS
LAHORE: A 15-member delegation of Indian businessmen from the Federation of Indian Micro, Small and Medium Enterprises (FIMSE) met with their Pakistani counterparts on Tuesday and pledged to work hand-in-hand to pave the way for enhanced trade activities.
Leader of the delegation Mukesh Kalra, while stressing the need for joint ventures between the two sides, said FIMSE was preparing a well-researched and well-consulted study to identify sector-specific impediments to bilateral trade aimed at facilitating the business community in the two countries.
He said the study would be ready by March 31 and it would be sent to the quarters concerned in the Indian government for appropriate measures.
He suggested that the two governments should make concerted efforts to implement measures for improving the conditions for doing business, which is a key to attracting foreign businesses. The delay in issuance of visas to both Indian and Pakistani businessmen was the biggest hurdle to bilateral trade, therefore, the businessmen should convince their respective governments to expedite the process in the larger interest of the people of this part of the world, he said.
LCCI Senior Vice President Mian Tariq Misbah was of the view that the frequency of visits made by Indian delegations to Pakistan in the last couple of years showed that the Indian business community was really very keen to study the Pakistan market.
He believed that such kind of relation-building could play a big role in normalising trade ties between the two countries.
Referring to trade data of the last three years, LCCI Vice President Kashif Anwar said it was very unfortunate that success in bringing any major increase in trade between Pakistan and India remained a pipe dream during this period. From 2010 to 2012, annual bilateral trade was $1.83 billion, $1.88 billion and $1.92 billion respectively.
“It indicates that either our efforts to enhance trade are not enough to produce results or we need to innovate existing ways of business deals,” remarked Anwar.
“Likewise, the share of each country in bilateral trade is almost constant. India’s exports to Pakistan are five times that of Pakistan’s exports to India. We are somewhat concerned about having lesser share in the trade,” he said.
“We know that the Indian economy is far larger than Pakistan’s but we want to minimise this trade gap. For that matter, India has to allow us to export much more than the existing level.”
Anwar stressed that non-tariff barriers imposed by Indian authorities to discourage Pakistani exporters should be given a serious thought. India must simplify these procedures to facilitate trade, he asked.
Published in The Express Tribune, February 12th, 2014.
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