Vohra calls for more Pakistani goods in Indian markets

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LAHORE: Kiran Vohra, leader of the Confederation of Indian Industries (CII), has said that businessmen and planners should strive for better penetration of Pakistani goods in Indian markets, according to a statement on Wednesday. The head of 17-member CII delegation and Farooq Iftikhar, president of the Lahore Chamber of Commerce and Industry (LCCI), discussed all the issues at the Lahore Chamber, it said. The two organisations agreed, in principle, to form a commission to sort out all non-tariff barriers hitting Pakistan-India trade. The 10-member LCCI-CII committee comprising five members each from the two countries would also look at the logistics-related issues for smooth flow of goods between the two sides.

There is a resolve on both sides that the committee would influence their respective governments for an early removal of hurdles and hitches impacting upon the two-way trade, it said. Non-issuance of visas by the Indian side and apprehensions of the pharma sector and engineering industry also came under discussion. Vohra said that there is no second opinion about it that for a win-win situation, Pakistan and India would have to share opportunities. Indian private sector is ready to go to any extent to strengthen the business community in Pakistan, he said, adding that nothing is better than having a strong neighbour.

Iftikhar said that frequent exchanges of businessmen delegations from the two sides clearly indicate that the private sector representatives of Pakistan and India are very much eager to play their respective roles in promoting direct trade with each other.

The size of the Indian economy and opening of free trade would relatively pose bigger challenges to Pakistani industry, said Iftikhar, adding that there are differences prevailing in the cost of doing business, duty structures, economies of scale, etc, between the two countries.

The LCCI president said that the best way to start with is to identify areas of economic cooperation. Joint ventures, outsourcing and sharing of technology will further pave the way for trade expansion, he said. There are certain sectors of Pakistan such as pharmaceuticals and the auto industry where open market competition will be highly disadvantageous to Pakistan.

Iftikhar said: “The unfavourable trade balance with India is not an issue; as long as, we can import from India certain raw materials, semi-finished goods and some finished goods at cheaper rates than from other countries, it goes in our favour.” “Pakistan considers India as a big market for Pakistani products.”

 

Courtesy: The News


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