Saarc Chamber meet to boost trade ties

MUMBAI, March 27: The Saarc Chamber of Commerce and Industry which held a seven-day economic conference in Pakistan recently has decided to ...

MUMBAI, March 27: The Saarc Chamber of Commerce and Industry which held a seven-day economic conference in Pakistan recently has decided to boost trade ties among the member countries.

Saarc Chamber president Kantikumar Podar said, “We received overwhelming support from the people of Pakistan for boosting trade ties.” During the summit, the delegation had several rounds of meeting at the different fields of business. Inaugurated by Pakistan Prime Minister Nawaz Sharif, the conference decided to establish `Saarc Economic Union’ by 2008.

A 100-member business delegation of Federation of Indian Chambers of Commerce and Industry (FICCI) partcipated in the summit held in Islamabad and Karachi. The delegation also met businessmen and trade bodies in Pakistan and concluded several business deals.

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Podar said that during last Saarc meeting at Male in 1996, they demanded abolition of the present preferential trade policy and a free trade policy by 2003. However, leading members of Saarc like India and Pakistanproposed it should be done by 2001.

Podar said commerce ministers of all Saarc nations have agreed to meet on April 29 in Islamabad to discuss various problems faced by Saarc nations while trading among the countries.

He also emphasised the need to improve port facilities between Karachi and Mumbai and rationalise freight which is quite high and uneconomical for low value, high bulk commodities.

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