KARACHI, Sept 17: Karachi Chamber of Commerce and Industry President Khalid Firoz and Indian Merchants Chamber, Mumbai, President Rajesh G. Kapadia have agreed in principle to form an ‘Indo-Pak trade committee’ to enhance trade ties between Pakistan and India.
Mr Kapadia, leader of the visiting Indian delegation, proposed the suggestion during a meeting with representatives of the KCCI, held soon after the KCCI best exporters award distribution ceremony on Sept 14, 2005.
Both the sides were of the view that India and Pakistan must amend the 1974 protocol on shipping to allow free movement of ships bearing India/Pakistan flags in each other country, and be allowed to carry a third country’s cargo. Also, travelling and visa facilities should be further eased to promote direct trade.
It was further suggested that bilateral trade could be transacted in rupee denominations instead of the dollar.
Khalid Firoz observed that since the confidence-building measures initiated between Pakistan and India, the exchange of trade delegations and businessmen between the two countries had substantially increased, which was very effective for the promotion of two-way economic and commercial relations.
The KCCI chief said: “We sincerely believe that the free trade between the two countries would eliminate the element of smuggling”.—APP
