South Asian Association for Regional Cooperation’s Chamber of Commerce and Industry hails government of India for allowing Investment from Pakistan

Islamabad, August 02, 2012 (PPI-OT): The leadership of the SAARC Chamber of Commerce and Industry (SAARC CCI) has hailed the decision of the Government of India for allowing Foreign Direct Investment (FDI) from Pakistan while regarding it as one of the strongest confidence building measures to improve bilateral relations, which will positively affect the intra-SAARC economic cooperation and deepen bilateral and regional economic cooperation.

Shri Vikramjit Singh Sahney, President, SAARC CCI regarded it as a great breakthrough in the history of both countries and said that it will not only augment bilateral cooperation manifold but also compliment efforts for meaningful implementation of SAFTA. He also praised the sincere efforts of the political leadership, diplomatic mission and Private Sector of both the countries particularly from the platform of SAARC Chamber of Commerce and Industry.

Mr. Sahney said that enhanced economic cooperation will help bringing both nations more closer who have stronger socio-cultural fabric than any other nations of the World. “It is very positive gesture showed by the Government of India, which will give Pakistani enterprises an ample opportunity to make investment in almost all sectors” further stated President of SAARC CCI and hoped that the both Governments will soon announce flexible Visa regime, which will further deepen bilateral economic cooperation.

Mr. Iftikhar Ali Malik, Vice President SCCI (Pakistan Chapter) regarded it is historic decision, envisaging it the first productive step towards regional development of South Asia. “ We need to strike when iron is hot” said Mr. Malik while urging upon the Pakistani enterprises to take full advantage of this great opportunity. He also appreciated the role of SAARC Chamber of Commerce and Industry and its former President Mr. Tariq Sayeed, who is a strong supporter of opening up trade and investment between two major players of South Asian countries.

Mr. Tariq Sayeed, former President of SAARC CCI said that opening up of Investment will have multi dimensional effect on economic cooperation. He urged upon the Government of Pakistan to announce similar Investment policy for Investment from India.

“Pakistan also needs inflow of FDI” said Mr. Sayeed and added that signing of bilateral Investment Treaty and avoidance of double taxation treaty will help create mutual stakes, which are earnestly required to resolve other issues to transform South Asia into a strong economic zone.

For more information, contact:
SAARC Chamber Of Commerce and Industry
Apex Business Organization of SAARC
House No. 397, Street 64, I-8/3, Islamabad- Pakistan
Tel: +9251 486 0611 -3, 831 6023
Fax: +9251 831 6024
Email: info@saarcchamber.org,
Website: www.saarcchamber.org