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Cooperation among SAARC states can boost economic growth

Cooperation among SAARC states can boost economic growth

LAHORE: Enhanced collaboration among private entrepreneurs of SAARC states, especially Pakistan and India, could accelerate industrial growth and generate more economic activities in South Asia.

This was stated by President SAARC Chamber of Commerce and Industry Vikramjit Singh Sahney while attending a delegation of Pakistani businessmen in New Delhi.

The South Asian region is rich in natural resources with cheaper labor, which can guarantee fast development of eight SAARC states including Pakistan, India, Afghanistan, Bangladesh, Sri Lanka, Nepal, Bhutan and Maldives, he added.

Vikramjit said that economic and trade development in South Asia depended on regional peace. The peaceful resolution of mutual problems by the SAARC countries, particularly India and Pakistan, would not only increase their bilateral trade but also ensure fast industrial growth and generate more economic activities in South Asia.

He appreciated Prime Minister Nawaz Sharif’s vision and desire of having cordial relation with all neighboring countries. Vikramjit said he would highlight Pakistani Prime Minister’s vision from the forum of SAARC CCI for developing the private sector of SAARC countries.

Earlier, Vikramjit had invited a business delegation from Pakistan to meet members of Federation of Indian Chambers of Commerce and Industry (FICCI) to find ways and means for furthering bilateral trade.

On Vikramjit’s invitation, SAARC CCI President Iftikhar Ali Malik is in New Dehli, leading a 12-member traders’ peace mission there. President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Vice President Zubair Ahmed Malik, SAARC CCI founding President Tariq Sayyed, former FPCCI President S.M. Munir and Muhammad Sohail Malik are among members of the delegation.