ISLAMABAD: A high-level business and trade delegation from Pakistan recently visited India to take part in track-II dialogue on enhancing trade relations between the two countries.
The dialogue, held in New-Delhi, was the result of efforts by the Sustainable Development Policy Institute (SDPI) and Indian Council for Research on International Economic Relations (ICRIER) to forge greater business ties between the two nations, said a press release issued on Sunday. The track-II meeting successfully concluded with the formation of joint India-Pakistan Business Council, which is an important milestone for businessmen of both the countries to deliberate on issues concerning mutual trade.
It was also decided to keep this process alive on a sustained footing and hold the next meeting at Wagah-Attari border to signify the ownership of this effort. There was also a consensus on the demand to award MFN status to India. Referring to measures taken in terms of trade liberalisation, the delegates showed satisfaction and mentioned the encouraging fact that Pakistani exports to India have risen by 27 percent from $333 million to $422 million in 2012.
The Pakistani delegation consisted of two former finance ministers, Dr Hafeez A Pasha and Dr Salman Shah, SDPI Deputy Executive Director Dr Vaqar Ahmed, Pakistan’s former ambassador to WTO Dr Manzoor Ahmed, Nestle Pakistan Chairman Syed Yawar Ali, faculty members from LUMS and representatives of the media. During the meeting, Pakistani delegates conveyed that for the first time there is a consensus in Pakistan on promoting trade with India, not just in goods but also in services along with greater cooperation on foreign direct investment.
They also explained the constraints in awarding MFN status to India and highlighted various measures taken by the government of Pakistan for the rationalisation of “trade list” and trade facilitation with India. Speaking on the occasion, Dr Vaqar Ahmed of the SDPI highlighted the potential of Pakistani investments in India and estimated it to be around $2.6 billion annually. The dignitaries at the meeting from the Indian side included Indian Minster for Railways Pawan Kumar Bansal and Ministry of Commerce secretary and additional secretary.
Other distinguished delegates included ICRIER Chairperson Isher Judge Ahluwalia, UN ESCAP Director Nagesh Kumar and Nisha Taneja, Professor at ICRIER. A vast number of academics from Jawarlal Nehru University; Jamia Millia University and representatives from business community also attended the meeting.
The dialogue, held in New-Delhi, was the result of efforts by the Sustainable Development Policy Institute (SDPI) and Indian Council for Research on International Economic Relations (ICRIER) to forge greater business ties between the two nations, said a press release issued on Sunday. The track-II meeting successfully concluded with the formation of joint India-Pakistan Business Council, which is an important milestone for businessmen of both the countries to deliberate on issues concerning mutual trade.
It was also decided to keep this process alive on a sustained footing and hold the next meeting at Wagah-Attari border to signify the ownership of this effort. There was also a consensus on the demand to award MFN status to India. Referring to measures taken in terms of trade liberalisation, the delegates showed satisfaction and mentioned the encouraging fact that Pakistani exports to India have risen by 27 percent from $333 million to $422 million in 2012.
The Pakistani delegation consisted of two former finance ministers, Dr Hafeez A Pasha and Dr Salman Shah, SDPI Deputy Executive Director Dr Vaqar Ahmed, Pakistan’s former ambassador to WTO Dr Manzoor Ahmed, Nestle Pakistan Chairman Syed Yawar Ali, faculty members from LUMS and representatives of the media. During the meeting, Pakistani delegates conveyed that for the first time there is a consensus in Pakistan on promoting trade with India, not just in goods but also in services along with greater cooperation on foreign direct investment.
They also explained the constraints in awarding MFN status to India and highlighted various measures taken by the government of Pakistan for the rationalisation of “trade list” and trade facilitation with India. Speaking on the occasion, Dr Vaqar Ahmed of the SDPI highlighted the potential of Pakistani investments in India and estimated it to be around $2.6 billion annually. The dignitaries at the meeting from the Indian side included Indian Minster for Railways Pawan Kumar Bansal and Ministry of Commerce secretary and additional secretary.
Other distinguished delegates included ICRIER Chairperson Isher Judge Ahluwalia, UN ESCAP Director Nagesh Kumar and Nisha Taneja, Professor at ICRIER. A vast number of academics from Jawarlal Nehru University; Jamia Millia University and representatives from business community also attended the meeting.
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