KARACHI: The trade potential between India and Pakistan is estimated to be around $20bn against the current around $3bn, according to a working paper published by ICRIER.
However, non-trade barriers (NTBs) and bureaucratic hurdles continue to impede growth in the bilateral trade.
To foster dialogue in this regard, ‘Normalising India-Pakistan Trade - 2nd Regional Chambers of Commerce Roundtable’ was held yesterday.
The conference was organised by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in collaboration with Indian Council for Research on International Economic Relations (ICRIER) and Institute of Business Administration (IBA).
In his key-note address, Dean and Director IBA Dr Ishrat Hussain said, “Evidence-based research was projected to be important for improving the situation and academic institutions can play a role in assisting business community in thrashing trade-related issues on the basis of data and policy analysis.”
He said that while the Association of Southeast Asian Nations (Asean) and other trade blocs are expanding, Saarc’s performance remained dismal due to the impediments created by the India-Pakistan issue.
Summing up, he said that while the government of Pakistan wants to normalise trade with India and has all major political parties on board, the consensus is non-existent in India.
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