PHD CHAMBER: Better Indo-Pak trade ties can push other issues to back seat

Ludhiana,    February 5, 2013: Terming the bilateral trade to be the most promising factor and the most potent instrument for having better bilateral relations between India and Pakistan; and facilitate progress in actualizing their strategic partnership for the future, Rajiv Bali, Chairman, Punjab Committee, PHD Chamber said, “There is a lot of trade potential with Pakistan. If trade takes a front seat, automatically, other issues shall get pushed to the back seat.”

“Booming bilateral trade may well be the strongest pillar of Indo-Pak rapprochement so much so that it shall not only overtake the pace of general confidence-building but also have a substantial impact on each other’s mutual perceptions,” said Bali.

“With the cross border trade especially being brought in for a noticeable transformation, it shall contribute to overall tranquility and peace in the area and shall well facilitate progress in the border areas,” said Bali.

Bali said, “As per a recently released US report, the Indo- Pak trade could jump to, well, 10 times the current amount. Removal of tariff and non-tariff barriers could result in an expansion of trade between the two countries from its current 2 to $2.5 billion to estimates ranging from $20 to $50 billion.”

Reiterating PHD Chamber’s firm resolve to boost bilateral trade ties, Bali said, “PHD Chamber has been undertaking many initiatives aimed at confidence-building in trading communities on the either side of the border since its maiden show in 2005, the exclusively held Indo-Pak Expo, 2005, wherein only few exhibitors from Pakistan participated. The recently held Punjab International Trade Expo, PITEX, 2012 in Amritsar, saw participation of more than 800 Pakistani industrialists including delegations from 6 Pakistani Chambers of Commerce and Industry and traders besides 100 exhibitors, he said.

The recent back to back trade delegations would usher in a new era of mutual buoyancy to expand their areas of mutual co-operation, which now remains premised on their new mantra of mutual accommodation and mutual benefit. “The aim”, said Bali, “is to build people to people (P2P) connect and then from people to P2P to B2B relations.

“Being a part of the integrated approach towards better trade ties, such interactions play the role of a catalyst”, said Bali, “And these efforts have to be continuous, rigorous and regular”, stressed Bali.

The economic success of the two countries had, for a long time, remained a mutually exclusive exercise thus slowing down its pace of progress and its global impact remarked Bali.

“It is very satisfying that the vision with which PHD Chamber started the series of international trade expos in Amritsar in 2005, facilitating the industry and business on both sides of the border with a common platform to boost trade across border, has met befitting rewards. The explicit exhibition of sentiments by the industry and trading community on both sides, coupled with the significant pro-active measures from both the governments, have already started bearing positive results. Indo- Pak trade ties have come a long way with the trade going up substantially”, said Bali.

As per reports regards the total imports during the first quarter i.e. April 2012 - June 2012 was Rs 190.22 crore as compared to Rs 92.59 crore during the corresponding period of the last financial year. Similarly, export touched Rs 356.98 crore during the first quarter of the current financial year, while during the corresponding period of the previous financial year it was Rs 257.35 crore.

(photo-caption:Dalip Sharma, Regional Director, PHD Chamber.)

Taking note of the reports, Dalip Sharma, Regional Director, PHD Chamber said, “The potential gains from the increased bilateral co- operation between India and Pakistan are immense. More flexible issuing of visas, rupee trade and better customs procedures can enhance the scope for trade.” “Perseverance in improving and sustaining better bilateral trade ties shall make trade a front runner over other issues,” said Sharma. 

To further the PHD Chamber resolve, Sharma said, “PHD Chamber is organising two Indo- Pak International Trade Expos (IPEX), one at Ludhiana and the other at Jalandhar. IPEX, 2013 is being organized from 15-18 February, 2013 at Ludhiana and from 7-11 March, 2013 at Jalandhar.”