ISLAMABAD, Jan 24: The implementation of South Asian Free Trade Area (Safta) linked to addressing of major concerns of two contracting parties of the agreement—Pakistan and Sri Lanka. This was stated by President of Islamabad Chamber of Commerce and Industry (ICCI) Abdul Rauf, while talking to a delegation of Indian Aspat Group of Industries led by its Chief Executive Vijay Ghunji.

“Implementation on SAFTA has got under way but Pakistan and Sri Lanka have certain reservations, which are required to be removed to make the agreement very useful,” he said.

Mr Rauf said despite all these, the core issues between both countries—Pakistan and India— prevent enhancement in bilateral trade, which need to be attended and solved at top priority level.

He said that India had given Pakistan MFN status but due to bilateral differences Pakistan had not accorded the same to India.

The joint ventures between Aspat Group of Industries and Pakistan business community could bring both the countries closer and increase bilateral trade, he said.

Mr Rauf said the world had become global village and competition in the trade had increased. “Better quality and less price is the cost of survival in international market,” he added.

He said that Pakistan would face comparatively less transport charges in trade with India which was of great benefit. It was imperative that bilateral trade enhanced to overcome poverty and for betterment of people of both countries, he stressed.

The chief executive of Indian Aspat Group of Companies Vijay Ghunji said that both countries business community should urge their government to solve their problems in the interest of people of the two countries.

He said that a large number of people had become homeless as a result of earthquake and at least 0.4 million houses have to be built in the affected areas. “In this regard their group can supply cheap material for the reconstruction activities on joint venture basis,” he proposed.