ISLAMABAD, April 17: The Confederation of Asia Pacific Chamber of Commerce and Industry (CACCI) has urged both Pakistan and India to resolve all outstanding political issues in order to pave the way for long lasting economic cooperation between the two neighbouring countries.

Speaking here on Saturday at Islamabad Chamber of Commerce and Industry, chairman CACCI K. K Modi said the two governments must ensure atmosphere conducive for resolving simmering political issues and removing hurdles impeding bilateral trade. He is leading a 15-member trade delegation of the CACCI to identify areas for increasing bilateral trade in the region.

"In the region 40 per cent people are living in below the poverty line and most countries spend most of their annual budgets on defence," he remarked.

He said the aim of CACCI was to promote economic cooperation among the Asia pacific states. He invited the ICCI members to attend 68th council meeting of CACCI being held in Cambodia on May 18-19 and a business congress to be held in New Delhi in December.

He also said that after the successful "Made-in Pakistan Exhibition" in New Delhi, the Federation of Indian Chambers of Commerce and Industry would hold a "Made-in India Exhibition" in Lahore in September.

ICCI president Zubair Ahmed Malik stated that Pakistan and India both have lots of natural resources and skilled manpower but bilateral trade in this region was only 2 per cent.

He urged the two governments to ensure unhindered movement of the people and goods between the two countries. He also said that there was a need to change our visa policies that restrict the visitors to some particular cities only. The visa procedure needed to be simplified and should be given to move freely in any part of the country without police reporting.