Assocham to visit Pak to boost trade

NEW DELHI: In the wake of the ongoing trade dialogue between India and Pakistan, an eight-member delegation of industry body Assocham will visit Pakistan on March 28.

The delegation, to be led by Assocham chairman (Indo-Pak Business Council) Ravi Wig, will meet the chambers of Lahore, Karachi and Islamabad and senior functionaries of the government of Pakistan, to explore joint business possibilities.

The areas that have been identified for future collaboration include tea, sugar, fresh fruits, vegetables, basmati rice, energy, tourism, ITES, cotton, textiles, machinery and pharmaceuticals. In addition, stress would be laid on the importance of increased trade relations to ensure that the two countries strengthen their synergies and enhance their trade volumes for mutual benefits.

According to Assocham, trade between India and Pakistan is expected to touch the $1 billion mark by the end of financial year 2007-08 and could reach $10 billion in the next couple of years. The chamber has pointed out that with the implementation of SAFTA, illegal trade between the two countries has come down to less than $1 billion in January 2007 from $2 billion in 2004-05.

The chamber’s study shows that Pakistan imports more than 150 million tonnes of tea from the world market of which only 2.5% comes from India. Therefore, there is a huge opportunity for Indian exporters in this area.