Financial Daily from THE HINDU group of publications
Tuesday, Jan 11, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jan 11, 2005 |
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Industry & Economy
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Foreign Trade Rise in Indo-Pak trade key to resolving issues: Kamal Nath Our Bureau
New Delhi , Jan. 10 THE key to solving Indo-Pak issues lies in increasing bilateral trade, the Commerce and Industry Minister, Mr Kamal Nath, said while addressing a joint meeting of PHDCCI and Lahore, Karachi and Rawalpindi Chambers of Commerce and Industry. He said that the meeting of Indo-Pak joint study group slated for January 25 would help the two countries move forward in this direction. Responding to the request by PHDCCI for opening land route for trade between the two countries, the Minister said that whereas India was committed to improving trade relations with its neighbours, the Pakistan business community should also force its Government to open land route. "We are willing to do so but Pakistan should also equally respond," Mr Kamal Nath said. He said that even though India has given the Most Favoured Nation status to Pakistan, trade between the two countries has not increased, urging businessmen to come out with specific problems so that these can be sorted out on a case-to-case basis. Presenting a copy of the joint declaration signed between PHDCCI and the three Pakistani Chambers for identifying factors impeding growth of trade and economic cooperation and also formulating suggestions for promoting joint investment and transfer of technology, Mr Sohail Lashari, Senior Vice-President, Lahore Chamber of Commerce and Industry, said that business has decided to form pressure groups to force Governments on both sides to give clear cut policy decisions for increasing trade. Mr Ravi Wig, Immediate Past President, PHDCCI, said that there is huge market that remains unexplored due to the border tensions. As soon as the borders are thrown open and SAFTA is in place, India and Pakistan would benefit the most. There is also a need to invest in people by improving education and health services in the region.
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