Pak-India: SAARC body to focus on trade ties

Trade in the region constitutes only 1.4% of total world’s imports, 1.2% of exports, merchandise trade is only 27.9%.

ISLAMABAD:

The Saarc Chamber of Commerce and Industry called upon the Confederation of Indian Industry (CII) to play its role in promoting Pak-India bilateral trade, according to a message from New Delhi.

“CII is one of the strongest business trade groups, enjoying the people’s trust,” said Iftikhar Ali Malik. “All out efforts would be made to accelerate the pace of economic and social development in South Asian countries.”

The SCCI president pointed out that intra-regional trade figures for South Asian are disappointing as trade in the region constitutes only 1.4 per cent of the total world’s imports and 1.2 per cent of exports, whereas merchandise trade is only 27.9 per cent of GDP, the lowest in the world.

“World development indicators have revealed South Asia houses 1.4 billion people, representing a large workforce, tremendous business and investment opportunities,” Asif said.

Published in The Express Tribune, August 9^th, 2014.

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