Pakistan businessmen and fashion fraternity personalities, who have descended on New Delhi to take part in the ‘Pakistan Lifestyle' show in India saw a huge trade potential between the two countries but wanted easing of visa rules and allowing across the border operation of mobile phones.

The business delegation complained of difficulty in getting visas and also in doing business with their Indian counterparts due to lack of any formal agreement on investment protection in each other's countries. The matter pertaining to foreign direct investment (FDI) by Pakistan companies in India is at present with the Finance Ministry for consideration and decision.

“Both India and Pakistan have the potential to take the bilateral trade to a higher level. There are certain issues hindering the trade between the two countries that need to be addressed,” according to the leader of Pakistan delegation to India, Abdul Qayyum.

He talked about delay in customs clearance of goods and difficulties in issuance of visa to businessmen. Mr. Qayyum is heading a 30-member business delegation from Faisalabad, which is the textiles hub of Pakistan.

He said the informal trade between the two countries via Dubai was not the right approach and it was time for adopting a direct bilateral trade approach. It is time that issues pertaining to trade were given a thrust and sorted out to give a fillip to taking the economic engagement to a new level, he added.

Another businessman, Masood Akhtar Bajwa, country general manager of ChenOne group of Pakistan, said the recent confidence building measures between the two nations were a step in the right direction.


Moderation in FDI flow worries Reserve BankApril 12, 2012

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