Lahore Chamber of Commerce and Industry (LCCI) on Saturday signed a memorandum of understanding (MoU) with the PHD Chamber of Commerce and Industry to improve trade between India and Pakistan,through special co-operation with Punjab. LCCI president Sheikh Irfan Qaiser and the LCCI president and Co-Chairman of the Punjab Committee,PHDCCI,R S Sachdeva signed the deal that will facilitate exchange of information about products and manufacturers,buyers,sellers and service providers in both the countries. The bilateral trade between Pakistan and India can go up to US $ 10 billion from the present US $ 2.7 billion within 2-3 years, Sheikh Irfan Omar said. With Pakistan planning to accord the Most Favoured Nation (MFN) status to India,there would be a great opportunity in growth of trade and business,especially that of the Micro,Small and Medium Enterprises (MSMEs), he added. Meanwhile,Sachdeva said that both the Chambers would plan trade delegations,and hold joint exhibitions for products and services,in both the countries. Queried why Amritsar has been chosen the venue for the trade expo PHD-PITEX for the last four years,Sachdeva said,Amritsar is nearest to the border. It suits the needs of the businessmen and traders. Sachdeva said the PHD Chamber has also agreed to participate in the Made in India show in Lahore in April. The exchange of delegations will go a long way to promote peace,harmony,love,and friendship between the two countries,Omar said,adding,a beginning has to be made. Once the confidence between the countries grow,the negative list can be revised again. A 125-member delegation of Lahore Chamber of Commerce and Industry is here to participate in the trade expo,PHD-PITEX,2011.
