By IANS,
Mumbai: Indian and Pakistani businessmen Monday evolved a consensus to “liberalise trade ties” at a meeting that was presided over by Pakistan’s Commerce Minister Amin Fahim, an official said.
Fahim is accompanied by a high-level 70-member business delegation and is staying at the Hotel Taj Mahal in Colaba, which was one of the targets of 10 Pakistani terrorists during the Nov 26-29, 2008 Mumbai terror attack.
The Pakistani businessmen evinced a keen interest in increasing trade relations between the two countries.
Both sides expressed confidence that with a little “push” from both governments, bilateral trade between India-Pakistan could jump five-fold, or $10 billion in just two years, said an official who attended the two-hour closed-door meeting in Hotel Taj Mahal late Monday evening.
Participants from both countries termed the meeting as “highly productive”, the official said.
There were strong sentiments in favour of Pakistan making a negative list instead of the existing positive list, and easing some of the trade barriers by both sides to give a fillip to trade and business relations between the two countries.
Though India had bestowed the most-favoured-nation (MFN) status on Pakistan in 1996, the neighbouring country was yet to reciprocate.
Fahim expressed optimism that his current visit would prove to be a “stepping stone” for future India-Pakistan relations.
Top business heads from Pakistan accompanying Fahim felt it was high time the two countries erased their differences and concentrated in dealing with political and business issues in exclusivity.
For instance, in 2000, the India-Pakistan bilateral trade was only $200 million, which rose to $1.86 billion last year, the official said.
Given a little push, it had the potential to go up five-fold within just two years, he noted.
On Monday afternoon, Fahim, who arrived on a four-day visit to India, starting with the country’s commercial capital, was accorded a grand reception by Federation of Indian Chambers of Commerce and Industry President Harsh Mariwala.
Later, he called on Maharashtra Governor K. Sankaranarayanan at Raj Bhavan.
Fahim is scheduled Tuesday to address a business conclave, “Exploring Business Between Neighbours” in the presence of senior officials and businessmen from both countries.