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FPCCI for increased trade volume between Pakistan and India

FPCCI for increased trade volume between Pakistan and India

ISLAMABAD: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) demands Most Favoured Nation (MFN) status for India.

This was said by FPCCI President Malik Zubair Ahmad while addressing a round table moot on “India Pakistan Economic Relations; The Next Milestone” in New Delhi organised by the Federation of Indian Chambers of Commerce and Industry (FICCI).

He further said, “I believe that MFN status for India will not be a death knell for the Pakistan economy as regarded by some Pakistani sectors, it only suggests that for trade purposes a WTO member country will not be discriminated by other member countries”.

The FPCCI president was of the view that an increased trade volume would help both countries “achieve goals of poverty reduction and achieving prosperity”. Bilateral trade volume between the two neighbouring countries has reached $2.7 billion which can be furthered up to $8 billion. He said that easing visa restrictions and free movement of people as well as lifting of tariff and non-tariff barriers, removal of bureaucratic hurdles, low import tariffs and presence of infrastructure are going to help attain real potential.

Malik Zubair Ahmed said that FPCCI and FICCI have been working together for two decades to improve bilateral economic agenda, and FPCCI will extend full cooperation to FICCI in organising the second edition of the ‘India Show’ in Lahore from February 14 to 16.