ISLAMABAD: Pakistan and India agreed to resolve the major defiance of illegal trade between the two countries.
According
to a press statement issued here on Saturday, Mr. Saleem H. Mandviwala,
Chairman Board of Investment met with Mr. Anand Sharma, the commerce
Minister of India, along with the ambassadors and trade representatives
of both sides in a warm and cordial environment.
Chairman Board
of Investment is on three-day visit to Russia to represent Pakistan at
International Economic Forum in St. Petersburg. The event is one of the
world’s leading discussion forums, bringing together prominent
politicians, corporate executives and experts to deliberate on key
issues of the global economy.
During the meeting, the BOI Chief
said that the trade which is taking place through informal channels
adds additional costs to the traders which are ultimately bourn by the
end consumers of both the countries. By removing barriers we can reduce
these additional costs and can increase the trade volume up to $ 10
billion and can also reduce our dependence on the other global sources
of trade which are relatively costly.
Talking about the
reluctance of business community’s interaction, the Indian commerce
minister stated that this is due to the misperceptions which are
impeding such direct contact which should be cleared through
encouragement to the business communities by the leaders of both sides.
He also expressed that the visa policies should also be revised to
facilitate and encourage the investors.
Chairman board of
Investment said that we should revive our relations in the context of
major economic developments currently taking place in the world and in
view of Russia’s growing dependence on the eastern world. It is
essential for us to increase economic relations with Russia in such a
way that the countries of South Asia become an essential part of the
revising economic strategy of Russia. Online
