Pakistan, India to finalise all trade regimes

Pakistan, India to finalise all trade regimes

Most Favoured NationKARACHI: An interactive session has been held between Pakistani and Indian businessmen delegation to work out a plan for granting Most Favoured Nation status by Pakistan to India before the talks at Ministerial level in the coming month.

Karachi Chamber of Commerce and Industry President Mian Abrar Ahmad highlighted three basic points for consideration by the Indian businessmen.He said the products valued in Pakistan should be valued at the same rate in India to facilitate the final consumer. The custom valuation adds the value in product and makes it unaffordable for the consumer.

The products certified in one country with all aspects should be acceptable in the other. The certification procedure in other country delays the product in reaching the final consumer and ultimately the supplier loses the order.He said the visa regime policy should be liberal and the businessmen should be provided multiple visa entry in multiple cities for a period minimum of one year.The delegation from Federation of Indian Chambers of Commerce and Industry, which visited Pakistan, proposed to hold B2B meetings and finalise all issues by high-level CEOs from both sides before ministerial meetings, so that the ministers fulfil the signing requirement.

He also said an exhibition would be held in Pakistan for Indian products in the coming month.Trade regulators of government of India explained the trade regime of India and responded to the queries of Pakistani exporters.Trade Development Authority of Pakistan (TDAP) Chief Executive Tariq Iqbal Puri explained the recent progress being made towards trade normalisation, like a comprehensive customs agreement is being finalised and which will also have the mechanism for expeditious clearance of cargo, sharing of trade laws, customs valuation and setting up of joint boarder liaison committee.

Moreover, agreement is being finalised to bring harmonisation in standards. Indian government is in the process of introducing more liberal visa regime policy.He briefed TDAP is engaging consultants to study the potential of Indian market and their findings will be discussed with the stakeholders in a series of seminars to be held throughout Pakistan. – Dailytimes