Event Details

ROUNDTABLE : impetus to Indo-Pak economic relations

NEW DELHI, November 15, 2013.

With recent developments and breakthroughs as well as an reinvigorated process of building consensus injecting a momentum in India-Pakistan economic ties, Mr. Vikramjit Sahney hosted a roundtable on ‘India Pakistan Economic Relations: The Next Milestone’ here today, to take forward the process of identifying the next leap that will take the bilateral economic relations to new heights. The initiative reinforces the commitment of the business fraternity of India and the Government towards furthering India-Pakistan economic relations.

Mr. Vikramjit Singh Sahney, President, SAARC Chamber of Commerce and Industry and Senior Executive Committee Member, FICCI, said, “We need political will on both sides to take the trade relations to the next level. It would also be in the interest of business communities on both sides to make the best possible use of the growing economic opportunities. As a business community we must respond and rise to the occasion. In that context, there are areas of action that need our attention.” He added, “If Pakistan grants non-discriminatory access to India, India will provide a reciprocal market access to Pakistan at a 0-5 % duty rate, similar to what is being given to Bangladesh. Pakistan should recognize that by delaying non-discriminatory access to India, it was losing out to Bangladesh.”

Mr. Arvind Mehta, Joint Secretary, Ministry of Commerce and Industry, Government of India, said that the road map for enhancing trade is in place and much progress has been made in the last two years. Pakistan’s trade with India has doubled in the last two years. The dialogue process needs to be uninterruptible and irreversible and under the SAFTA process both countries would bring down the duty level on 98% items to 0-5 % range.

The roundtable coincided with the visit of a senior-level Pakistan business delegation to India led by Mr. Zubair Ahmed Malik, President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI).