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Pakistan & India agree to check informal trade
Pakistan and India have agreed to tackle the trade taking place through informal channels, which adds to cost to traders and the end-users as well.
The development in Indo-Pak trade relations emerged during a meeting between Board of Investment chairman Saleem Mandviwala and Indian Commerce Minister Anand Sharma in St. Petersburg on Saturday, according to a press release issued here by BOI.
The meeting took place on the sideline of the 3-day International Economic Forum where the BOI chairman and Indian commerce minister were leading their delegations.
The two sides at the talks were assisted by their ambassadors as well as trade representatives in a warm and cordial environment, a BOI press release said.
By removing barriers the two countries can reduce these additional costs and can increase the trade volume up to $10 billion, Mandviwala said at the meeting.
Mr Sharma said that misperceptions were impeding direct contacts between the businessmen, which should be cleared by the leaders of both sides.
He further said that the visa policies should also be revised to facilitate and encourage the investors.
The BOI chairman said that Pakistan and India should revive relations in the context of major economic developments currently taking place in the world and in view of Russias growing dependence on the eastern world.
It is essential for us to increase economic relations with Russia in such a way that the countries of South Asia become an essential part of the revising economic strategy of Russia.
Mr Mandviwala said that the trade communities of both sides should have a closer interaction with each other to explore the
opportunities in the field of trade and investment.
Indian commerce minister said that business communities were encouraged to realise that Pakistan has revised its long positive list of imports other than smaller negative list thereby increasing the opportunities of trade with India.
The BOI chief invited Mr Sharma to visit Pakistan and exhort the Indian businessmen to come to Pakistan.
Pakistan, India agree to check informal trade | Business | DAWN.COM
Pakistan and India have agreed to tackle the trade taking place through informal channels, which adds to cost to traders and the end-users as well.
The development in Indo-Pak trade relations emerged during a meeting between Board of Investment chairman Saleem Mandviwala and Indian Commerce Minister Anand Sharma in St. Petersburg on Saturday, according to a press release issued here by BOI.
The meeting took place on the sideline of the 3-day International Economic Forum where the BOI chairman and Indian commerce minister were leading their delegations.
The two sides at the talks were assisted by their ambassadors as well as trade representatives in a warm and cordial environment, a BOI press release said.
By removing barriers the two countries can reduce these additional costs and can increase the trade volume up to $10 billion, Mandviwala said at the meeting.
Mr Sharma said that misperceptions were impeding direct contacts between the businessmen, which should be cleared by the leaders of both sides.
He further said that the visa policies should also be revised to facilitate and encourage the investors.
The BOI chairman said that Pakistan and India should revive relations in the context of major economic developments currently taking place in the world and in view of Russias growing dependence on the eastern world.
It is essential for us to increase economic relations with Russia in such a way that the countries of South Asia become an essential part of the revising economic strategy of Russia.
Mr Mandviwala said that the trade communities of both sides should have a closer interaction with each other to explore the
opportunities in the field of trade and investment.
Indian commerce minister said that business communities were encouraged to realise that Pakistan has revised its long positive list of imports other than smaller negative list thereby increasing the opportunities of trade with India.
The BOI chief invited Mr Sharma to visit Pakistan and exhort the Indian businessmen to come to Pakistan.
Pakistan, India agree to check informal trade | Business | DAWN.COM
