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Despite the current tensions along the border, Pakistan is ready to strengthen trade ties with neighbouring India.
Pakistani Commerce Minister Khurram Dastagir has said it’s a fact that business knows no barrier and only ‘close’ trade ties can improve the political situation in South Asia. The minister expressed the view while speaking at a consultative trade meeting in Islamabad. Although Dastagir has admitted that tensions along the Indo-Pak border cast a shadow on bilateral economic ties, he believes that the two neighbouring countries can improve their relations only through business.
The commerce minister told the business leaders that the Nawaz Sharif government has decided to continue trading with India and other neighbours, despite border tensions. He stressed: “The government is committed to increase regional trade as part of promoting peace without compromising on national sovereignty.”
According to Dastagir, energy hungry Pakistan will import electricity from India to resolve the acute power crisis. At the same time, he said that Islamabad is fully prepared to provide extraordinary concessions to other countries in the region for trade facilitation.
He assured businessmen that the government will try to boost trade ties with other regional powerhouses, like Iran and China. “We have been trying to finalise our projects with Iran as well,” said the minister, adding that the government is facing problems regarding modes of international payments mainly because of global pressure. Claiming that Islamabad is purchasing electricity at Gwadar Port from Tehran, he stressed: “The direction of this government is to encourage investment. A new change will be noticed if Gwadar Port is linked with the North.”
As far as trade ties with China are concerned, Dastagir said that Islamabad had signed a Free Trade Agreement (FTA) with Beijing.
Meanwhile, Privatisation Minister Mohammad Zubair supported Dastagir’s view, saying that trade with India is crucial for Pakistan’s economic development. “Pakistan should trade with India for better standard of living of its own people. If we want to develop, we should contribute. It is not about India’s domination on us, we absolutely want good relations with India,” he added. “No country in the world can improve its relations without going into business,” stressed Zubair.
The privatisation minister further urged the Pakistani business leaders to follow India’s path as it has emerged as an attractive place for foreign investors in recent years. According to him, IBM Pakistan had 400 employees in 2008, while India had 75,000. Sustainable Development Policy Institute organised the meeting – themed ‘Trade with Neighbours: Prospects and Challenges’ – on Saturday.
According to the Indian political experts, the Pakistani ministers have shown eagerness to boost trade ties with India ahead of the South Asian Association for Regional Co-operation (SAARC) meet in November, as they know that the regional summit will be only respite in Indo-Pakistan crisis. According to them, guns may fall silent when the SAARC meet takes place. However, experts have advised governments of the two countries to find a long-term solution to the ongoing crisis. The 18th SAARC Summit will be held in Nepal from November 26-27.
Pakistan Eager To Bolster Trade Ties With India | InSerbia News
Pakistani Commerce Minister Khurram Dastagir has said it’s a fact that business knows no barrier and only ‘close’ trade ties can improve the political situation in South Asia. The minister expressed the view while speaking at a consultative trade meeting in Islamabad. Although Dastagir has admitted that tensions along the Indo-Pak border cast a shadow on bilateral economic ties, he believes that the two neighbouring countries can improve their relations only through business.
The commerce minister told the business leaders that the Nawaz Sharif government has decided to continue trading with India and other neighbours, despite border tensions. He stressed: “The government is committed to increase regional trade as part of promoting peace without compromising on national sovereignty.”
According to Dastagir, energy hungry Pakistan will import electricity from India to resolve the acute power crisis. At the same time, he said that Islamabad is fully prepared to provide extraordinary concessions to other countries in the region for trade facilitation.
He assured businessmen that the government will try to boost trade ties with other regional powerhouses, like Iran and China. “We have been trying to finalise our projects with Iran as well,” said the minister, adding that the government is facing problems regarding modes of international payments mainly because of global pressure. Claiming that Islamabad is purchasing electricity at Gwadar Port from Tehran, he stressed: “The direction of this government is to encourage investment. A new change will be noticed if Gwadar Port is linked with the North.”
As far as trade ties with China are concerned, Dastagir said that Islamabad had signed a Free Trade Agreement (FTA) with Beijing.
Meanwhile, Privatisation Minister Mohammad Zubair supported Dastagir’s view, saying that trade with India is crucial for Pakistan’s economic development. “Pakistan should trade with India for better standard of living of its own people. If we want to develop, we should contribute. It is not about India’s domination on us, we absolutely want good relations with India,” he added. “No country in the world can improve its relations without going into business,” stressed Zubair.
The privatisation minister further urged the Pakistani business leaders to follow India’s path as it has emerged as an attractive place for foreign investors in recent years. According to him, IBM Pakistan had 400 employees in 2008, while India had 75,000. Sustainable Development Policy Institute organised the meeting – themed ‘Trade with Neighbours: Prospects and Challenges’ – on Saturday.
According to the Indian political experts, the Pakistani ministers have shown eagerness to boost trade ties with India ahead of the South Asian Association for Regional Co-operation (SAARC) meet in November, as they know that the regional summit will be only respite in Indo-Pakistan crisis. According to them, guns may fall silent when the SAARC meet takes place. However, experts have advised governments of the two countries to find a long-term solution to the ongoing crisis. The 18th SAARC Summit will be held in Nepal from November 26-27.
Pakistan Eager To Bolster Trade Ties With India | InSerbia News
