Lahore Chamber, SRTEPC India ink MoU for trade ties

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LAHORE: Lahore Chamber of Commerce and Industry (LCCI) and Synthetic & Rayon Textiles Export Promotion Council (SRTEPC), India, on Monday inked an MOU for the promotion of mutual relations and dissemination of trade related information. Speaking on this occasion, the SRTEPC Chairman Vinod Kumar Ladia urged Pakistan and India governments to expedite normalization of trade relations at a much faster speed as the business communities in the two countries is willing to play its due role. He stressed the need for joint ventures between the two countries as both the sides have a lot to offer to each other in a large number of sectors.

Both the countries have geographical proximity and regional accumulation and Pakistani businessmen must not look at Indian counterparts as competitors but as collaborators, he said, adding that businessmen of the two sides should chalk out plans for mutually beneficial cooperation in trade, business and supply arrangements.

Ladia said that around 35 leading Indian textile companies are exhibiting their latest range of products that offers Pakistani businessmen a unique opportunity to Pakistan and an ample proof that we are more than willing to take our Pakistani counterparts along. He said, Pakistan and India have similar business trends in textiles and cooperation in the textile sector would create a win-win situation. He said that INTEXPO-2012 has set the stage to develop close linkages between the private sectors representatives of two countries as it has always been a dream of the business community of India and Pakistan to hold a sector-specific exhibition in each other's countries.

In his welcome address, the LCCI President Farooq Iftikhar said the exhibition has a unique importance and significance because it is being organized at such a time when both the countries are in the process of finalizing various things particularly in the context of granting MFN status.

Farooq Iftikhar said that it is high time that both the sides must take full benefit of each other's strength and set aside all differences that have been hindering way to economic development and prosperity.

The Chamber's SVP Irfan Iqbal Sheikh, VP Mian Abuzar Shad, Convener LCCI Standing Committee on Pak-India trade Promotion Aftab Ahmad Vohra, former Chairman SRTEPC Sanjeev Saran Chairman Spinners Association of India SK Khandelia, SRTEPC Board Member Aziz Valiullah also spoke on the occasion.

Courtesy: Business Recorder

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