KARACHI: The Southern Gujarat Chamber of Commerce and Industry (SGCCI) in India is preparing case of easing visa policy for Pakistani businessmen with the concerned authorities in India.

This was revealed by President SGCCI Kamlesh Yagnik during a meeting with Pakistani businessmen at Karachi Chamber of Commerce and Industry (KCCI) on Wednesday.

“Every single Pakistani businessman is keen to do business with India,” Yagnik claimed while referring to his meetings with various representatives of Pakistani business community.

He said that trade between neighbouring countries need to be maximised and business communities should unite and work more closely in this regard.

Yagnik suggested that instead of trading in dollars, a currency swap agreement should be inked by both governments. On MFN status to India, he said that it would give rise to formal trade and result in taking the existing trade volume to new heights.

He said that it is possible to enhance the existing trade of $2 billion to $25bn in the next 10 years through collective efforts.

On the occasion, a Memorandum of Understanding for strengthening cooperation between the two chambers was signed by KCCI president Abdullah Zaki and Yagnik.

Zaki suggested end to visa restrictions, followed by development of trade infrastructure, adoption of trade facilitation measures, tackling the non-tariff barrier issue, promoting business-to-business engagement, settling investment and banking issues that hinder increase in trade volumes, identifying new trade options, and opening more crossing points for trade between the two countries.

Chairman of Businessmen Group Siraj Kassam Teli said that instead of leaving the task on governments and bureaucracies of Pakistan and India, the business communities of both countries must come forward and lead the way.

He further said that it was high time to grant MFN status to India. “Unfortunately, it is being delayed due to some bureaucratic hurdles on both sides,” he added.

Opinion

Shadow soldiers
10 May 2021

Shadow soldiers

Today, there are mercenary armies that make Blackwater look like babies.

Editorial

11 May 2021

Kabul massacre

AFGHANISTAN is a land that has seen plenty of massacres during decades of unrest. However, despite this almost...
Divisive move
Updated 11 May 2021

Divisive move

The whole point of these reforms is to ensure that all major political stakeholders are on board, and that there is a consensus.
11 May 2021

Bank loan concerns

THE combined gross non-performing loan portfolio of the country’s banks and DFIs increased marginally by 2.6pc or...
10 May 2021

Safe havens

THE pull-out of foreign forces from Afghanistan has security ramifications for that country as well as neighbouring...
10 May 2021

Important bills

AT last, there is some movement on critical legislation that appeared to have been put on the back-burner. The...
Al Aqsa clashes
Updated 10 May 2021

Al Aqsa clashes

US policy remains wedded to blind support for the Jewish state.