AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore, September 08, 2012 (PPI-OT): The Lahore Chamber of Commerce and Industry Saturday appreciated the Indian government for liberalizing visa regime for Pakistani particularly the business community.
In a statement issued here the LCCI President Irfan Qaiser that the one year 10-city visa to businessmen will help increase the bilateral trade between the two countries. He also appreciated the Indian government decision to grant visa on border to senior citizens as this will bring the people of two countries closer.
Irfan Qaiser Sheikh said that these Confidence Building Measures (CBMs) would go a long way towards normalization of bilateral relations between the two countries.
He stressed the need for Indian investments in Equities, Real Estate, Industry and Financial sectors.
The LCCI President said that the liberalization of visa regime for bona fide businessmen will pave way for frequent meetings between the businessmen of the two countries.
He however, stressed the need for early removal of all NTBs (non-tariff barriers) imposed by the Indian government that are blocking the smooth flow of Pakistan’s export into India. “If we would have strong trade relations the political relations would get better automatically”, he said.
Irfan Qaiser Sheikh also stressed the need for promoting border trade particularly through land routes which is in favour of both the countries. He said that the potential gains from increased economic integration between India and Pakistan are large whereas the mutual trade between the two countries is unnaturally small.
Informal trade via third countries (such as the United Arab Emirates, specifically Dubai), is estimated around $2 billion to $3 billion per year, and this trade could obviously be undertaken bilaterally at significantly lower cost. The LCCI President said that India should allow the representatives of private sector of Pakistan to establish trade offices for various products in India.
For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854