Trade with India can foster peace
Business leaders of two countries urge stronger economic ties despite differences
Islamabad: Increased trade and economic engagements can bring long-lasting peace between India and Pakistan, whose relations have been marred for decades by a host of issues including Kashmir and terrorism, trade ministers and business leaders of the two countries said yesterday.
Talking to the media on the sidelines of a business meeting here, India's Commerce and Industry Minister Anand Sharma said India was keen to boost trade with Pakistan despite political differences.
"We have issues with other neighbouring countries as well. Today China is India's largest trading partner so why can't Pakistan and India engage with each other for bringing prosperity and economic development. We are for that," he said.
Sharma, who is leading a high-level business delegation on a four-day visit to Pakistan, said the Indian government was "serious" and "sincere" about resolving all issues with Pakistan.
"We are serious and sincere in deepening economic engagements with Pakistan. We have come here with an open mind and open heart," said Sharma. Pakistan's Commerce Minister Makhdoom Mohammad Ameen Fahim said the Pakistani government was taking steps to remove hurdles that are affecting the movements of trade and investments between the two countries.
Roadmap
"We have prepared a roadmap. A roadmap that we are going to have a very good business and economic relations," said Fahim.
After a bilateral meeting in September last year, trade ministers of India and Pakistan had set a target to increase bilateral trade to $6 billion (Dh22 billion) in three years from $2.7 billion recorded in 2010-11.
"It's not peace that leads to trade but it's trade that leads to peace," said R.V. Kanoria, president of the Federation of Indian Chambers of Commerce and Industry (Ficci).
Kanoria, who is part of a more than 120-member Indian business delegation, said business communities of both countries have very high expectations from the political leadership to ease norms to facilitate the flow of bilateral trade and investments.
