ICCI for realizing $37 billion Pak-India bilateral trade potential

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From Business Correspondent

ISLAMABAD: Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce and Industry (ICCI) has lauded the keen interest of Prime Minister of Pakistan Imran Khan for developing peace with India in order to promote bilateral trade that he showed while addressing the ground-breaking ceremony of the Kartarpur Corridor at Gurdwara Darbar Sahib.

In a statement here yesterday, he termed it a healthy gesture by the Pakistani leadership that should be reciprocated with equal determination and resolve from the other side of that border in order to start a new era of growing trade between the two immediate neighbors.

He said that according to a latest report of World Bank, without trade barriers, Pak-India bilateral trade has the potential to increase up to $37 billion per annum while the existing volume of two-way trade was mrely $2 billion.

It showed that the people of the two countries have been kept deprived of the fruits of growing trade that could uplift their living standard and bring prosperity in their lives. He said the countries around the world harnessed the potential of intraregional trade to prosper together with the neighbors. He said that intraregional trade accounted for 50 percent of total trade in East Asia and the Pacific and 22 percent in Sub-Sarahan Africa.

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