Indo Pak trade can cross 6 billion dollars

Trade can cross US$ 6 bn, says IMF report
source: http://cities.expressindia.com/fullstory.php?newsid=252041
Harpreet Bajwa

Chandigarh, August 21: The trade between India and Pakistan through Wagah can touch US$ 5 to 6 billon, says a study of the International Monetary Fund.
Talking to The Indian Express, Gunbir Singh, Chairman, CII Amritsar Zonal Council, said, “India and Pakistan are the two largest economies in the South Asian region and have tremendous potential for bilateral trade. The report of International Monetary Fund says that the bilateral trade can cross US$ 5-6 billion mark if basic trade relations are strengthened. It also says that the intra-regional trade in the South Asian region is lowest in the world.”
“The report adds that to promote trade and tourism, there is a need for an easy visa regime and customs procedures and standards, elimination of double taxation and opening of more consulates and transport routes in the two countries. Besides, the current list of positive items that could be imported from India to Pakistan should be reviewed. There was enormous potential for joint ventures and tie-ups in the areas of energy, specifically hydroelectric energy, healthcare, infrastructure, tourism, university education and entertainment,” said Singh.
He added, “The report also recommends need to enhance the people-to-people contact between India and Pakistan. This could be feasible through exchage programmes in the areas of education, culture, business and tourism.”
He said, “Yesterday’s joint Indo-Pak agreement on movement of trucks is a milestone for business relations between the two countries.”
“Encouraging response from the Pakistan is heartening,” he added.
Sources said in a recent meeting between Indian and Pakistani officials, the Indian government had given a list of 241 items to their Pakistani counterparts.
“Yesterday, the Punjab government said within two months land will be acquired for a dedicated trade corridor at the border. Once this corridor comes up, scanners will be installed to check trucks,” said an officer.