We need to put bilateral trade on fast track: Rawalpindi commerce body
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Major challenges facing bilateral trade across borders was highlighted here at the interaction by a delegation of the Rawalpindi Chamber of Commerce and Industry (RCCI).
Stressing the fact that Pakistan is a gateway to Central Asia and the third world countries, it was discussed that bilateral trade should be opened across the border and with the transfer of technology, goods and services rather than routing the same through the third world countries. "We should be focused to move ahead from signing MoUs to expedite the practical implementation of the agreed upon issues putting bilateral trade on a fast track", said Nadeem A. Rauf, Vice President of RCCI who expressing that custom clearances and visa sanction were major hurdles in bilateral trade.
The interactive session was organised by PHD Chamber of Commerce and Industry on the business and investment opportunities available in Pakistan in various sectors. "A trade relationship and increased business shall not only cut the cost for the trading community but also would prove to be a revenue generator for both the governments," said Raja Amer Iqbal, Chairman of Foreign Affairs Committee who expressed that both nations can help in poverty alleviation through providing, creating and realizing trade opportunities.
Iqbal said that Rawalpindi has business opportunities in marble, poultry and poultry products, textiles, flour mills, food industry, pharmaceuticals, life sciences, auto parts, garments and zari, steel pipes, defense procurements, energy, heating, ventilation, air conditioning and refrigeration. It was also discussed that while Non- Tariff Barriers (NTBs) remain the major problem, custom clearance and sanction of VISA were other major roadblocks.
The delegates said that a healthy business relationship will sustain only if it is beneficial to both the parties. While agreeing that Pakistan may not be that competitive at the moment, because its fighting its own battle against terrorism, but it will leap forward.
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