Pakistan, India asked to accelerate trade liberalisation
Islamabad:The Attock Chamber of Commerce and Industry on Saturday asked Pakistan and India to speed up trade liberalisation efforts.
Pakistan and India are the two most populous and largest economies in South Asia while trade volume remains unsatisfactory, it said.
Liberalised trade will help both countries save billions in the transport costs alone that could be utilised for fruitful efforts, said President ACCI Tariq Mehmood while speaking to business community.
Islamabad and New Delhi should hammer out issues impeding trade and growth as both countries have already wasted over half a century in futile struggle, he said.
Increased foreign direct investment, increased technology, higher productivity, access to larger markets, efficiency boosts and regional integration are some of the potential advantages of trade liberalization, he added.
Tariq, who is Chairman FPCCI Standing Committee on Health and Director Pak-UK Business Council, said only trade can help bring temperatures down and ensure a cordial environment.
He said that now policymakers of two countries have realised that too much focus on security has deprived masses of many benefits.
Enhanced trade shouldn’t be confused with compromise on political disagreements, he stressed.
Pakistan can easily promote its own economic interests by opening up trade and conflict resolution dialogue with India.