Indian, Pak business leaders seek greater trade flow

CHANDIGARH: Indian and Pakistani businesses said it was high time that the two countries created a conducive environment for commerce and encourage free trade.

At an interaction organised by the PHD Chamber here between Gujranwala Chamber of Pakistan and local industry associations, business leaders called for boosting cross- border trade between the two nations.

A high profile delegation of 20 members from Gujranwala Chamber of Commerce interacted with various local association members from Chandigarh, Mohali and Derabassi.

"Such an initiative will definitely give a fillip to trade and economic ties and help India as a whole and northern region particularly Punjab in emerging as a potential trade centre of international repute," Punjab Industry Secretary S S Channy said.

Vikram Sahgal, Chairman, Chandigarh Committee, PHD Chamber said, "India and Pakistan are the two largest economies in the South Asian region that provide tremendous potential for bilateral trade".

He said the latest data showed that formal trade between India and Pakistan rose to USD 2.7 billion in 2010-11 from USD 144 million in 2001, while informal trade, including third country trade, is estimated at USD 10 billion.

Dalip Sharma, Regional Director, PHD Chamber stated that, "The discussion aimed at facilitating the promotion, development and enhancing the competitiveness of micro, small and medium enterprises in both India and Pakistan by making them aware of various facilities and opportunities that can be explored for mutual collaboration".