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LAHORE – The country imports Indian goods of up to $3 billion through informal trade via Dubai and Singapore, and if this trade is allowed from India directly in a legal way the cost of trade will go down enormously, besides improving the government revenue, trade and industry experts said.
They said that by removing non-tariff barriers from her side India could pave the way for Pakistan to enhance its trade and to narrow down the trade deficit. They said the unauthorised trade could be converted to legal business through frequent interaction between both the countries chambers and trade associations, which will stop smuggling entirely and lower the const significantly.
Presently the regional trade of south Asia is just 4 percent which should be enhanced to a high level in the interest of the public of all the countries in the region, said LCCI Standing Committee on Pak-India Trade Promotion Chairman Aftab Vohra. He said that Pak-India official trade is of $2 billion out of which $0.6 billion is export while $1.4 billion is import. He stressed the need for enhancing this trade balance with the neighbouring country.
Chairman of Pakistan Chemicals & Dyes Merchants Association Muhammad Haroon said that PCDMA believes to enhance bilateral trade between two countries, with regular exchange of trade delegations and interaction between the leading trade associations with active participation in exhibitions of two countries.
He said that Pakistan exported goods valued $ 268.33 million and imported $ 1.03 billion in 2009-10 whereas, Pakistan suffers a trade deficit with India and Trade is in Indian favour. Agar observed that Pakistan imports some Indian items through informal trade via Dubai & Singapore which is estimated around $ 2-3 billion per year, and this trade could obviously be undertaken bilaterally at significant lower cost.
Haroon Agar drew the attention of Indian High Commissioner towards delays in the issuance of business visas to members and requested to simplify the visa procedures. Agar requested the Indian High Commissioner to grant visas to members on priority basis on association’s recommendation. Agar stated that India Trade Volume in 2009-10 was $ 1.38 billion. Bilateral trade has a potential to increase up to $ 5 billion . He said that trade between India and Pakistan is less than 0.5 percent against their total trade and this should be increased.
Meanwhile, Sharat Sabharwal, Indian High Commissioner in Pakistan has ensured swift issuance of business visas, in a meeting held with Chairman and Members of Pakistan Chemicals & Dyes Merchants Association. Indian High Commissioner while addressing the PCDMA members assured that business visa will be processed and issued on priority to the Association’s members. He stated that Pakistan is an important country for India in respect of trade and subsequently the business community of both countries are maintaining cordial relations. He said that Pakistan imports chemicals, dyes, spices, plastics products etc in large quantity from India.
He highlighted that the Indian export has crossed 600 b, while the bilateral trade volume with joint efforts can rise to the level of 10 to 12 billion USD. Indian High Commissioner stated that they treat all trading partners equivalent and efforts are underway to enhance bilateral relations as well. Referring the SAFTA agreement, he said that it would be productive if Pakistan grants India the MFN status.
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Official + Unofficial import to Pakistan is 4.6 billion USD... Thats the big amount ..
http://nation.com.pk/pakistan-news-...11/Pakistan-imports-3b-Indian-goods-via-Dubai
They said that by removing non-tariff barriers from her side India could pave the way for Pakistan to enhance its trade and to narrow down the trade deficit. They said the unauthorised trade could be converted to legal business through frequent interaction between both the countries chambers and trade associations, which will stop smuggling entirely and lower the const significantly.
Presently the regional trade of south Asia is just 4 percent which should be enhanced to a high level in the interest of the public of all the countries in the region, said LCCI Standing Committee on Pak-India Trade Promotion Chairman Aftab Vohra. He said that Pak-India official trade is of $2 billion out of which $0.6 billion is export while $1.4 billion is import. He stressed the need for enhancing this trade balance with the neighbouring country.
Chairman of Pakistan Chemicals & Dyes Merchants Association Muhammad Haroon said that PCDMA believes to enhance bilateral trade between two countries, with regular exchange of trade delegations and interaction between the leading trade associations with active participation in exhibitions of two countries.
He said that Pakistan exported goods valued $ 268.33 million and imported $ 1.03 billion in 2009-10 whereas, Pakistan suffers a trade deficit with India and Trade is in Indian favour. Agar observed that Pakistan imports some Indian items through informal trade via Dubai & Singapore which is estimated around $ 2-3 billion per year, and this trade could obviously be undertaken bilaterally at significant lower cost.
Haroon Agar drew the attention of Indian High Commissioner towards delays in the issuance of business visas to members and requested to simplify the visa procedures. Agar requested the Indian High Commissioner to grant visas to members on priority basis on association’s recommendation. Agar stated that India Trade Volume in 2009-10 was $ 1.38 billion. Bilateral trade has a potential to increase up to $ 5 billion . He said that trade between India and Pakistan is less than 0.5 percent against their total trade and this should be increased.
Meanwhile, Sharat Sabharwal, Indian High Commissioner in Pakistan has ensured swift issuance of business visas, in a meeting held with Chairman and Members of Pakistan Chemicals & Dyes Merchants Association. Indian High Commissioner while addressing the PCDMA members assured that business visa will be processed and issued on priority to the Association’s members. He stated that Pakistan is an important country for India in respect of trade and subsequently the business community of both countries are maintaining cordial relations. He said that Pakistan imports chemicals, dyes, spices, plastics products etc in large quantity from India.
He highlighted that the Indian export has crossed 600 b, while the bilateral trade volume with joint efforts can rise to the level of 10 to 12 billion USD. Indian High Commissioner stated that they treat all trading partners equivalent and efforts are underway to enhance bilateral relations as well. Referring the SAFTA agreement, he said that it would be productive if Pakistan grants India the MFN status.
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Official + Unofficial import to Pakistan is 4.6 billion USD... Thats the big amount ..
http://nation.com.pk/pakistan-news-...11/Pakistan-imports-3b-Indian-goods-via-Dubai
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