President Chamber of commerce and industrial undertakings (CICU) Inderjit Singh Pardhan said that the move by the Pakistan government to phase out major restrictions on trade with India by taking out many items from the negative list by the end of this year is wholly welcome.
This will lead to ending of trade routed through a third country,mainly Dubai. This will result in manifold increase in bilateral trade via Attari-Wagah land route which at present stood at USD 2.33 billion.
Recently CICU conducted interactive session and business-to-business meeting with delegates of Gujranwala Chamber of Commerce and Industry and Federation of Pakistan Chamber of Commerce and Industry to promote people-to-people contact and two-way trade.
Avtar Singh General Secretary said that India imported USD 276 million worth of goods from Pakistan and in the same year,it imported 111 times more from China.
Today,Pakistan is in a position to supply cotton,cement,plastic and other much-needed raw materials to India at a fraction of the cost.
Upkar Singh Joint Secretary said,The trade which is currently restricted to 1,963 items will go up to cover 5,600 item which will certainly be a giant leap in bilateral trade.