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India Expo begins; aims to enhance Indo-Pak trade
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SME Times News Bureau | 22 Dec, 2012
India Expo 2012, a multiproduct exposition was inaugurated at Karachi Expo Centre in Karachi on Friday, aims at further enhancing bilateral trade between India and Pakistan.
Organised by Federation of Indian Export Organisations in association with Karachi Chamber of Commerce and Industry, the India Expo was inaugurated by Siraj Kassam Teli, Chairman Businessmen Group and former President KCCI.
Also present at the function were KCCI President Muhammad Haroon Agar, FIEO President M Rafeeque Ahmed and DG & CEO FIEO Ajay Sahai.
Speaking at the inaugural ceremony, Chief Guest Siraj Kassam Teli, asserted upon the need to create new Indo-Pak trade synergies for economic integration.
He said that during last one decades business communities of two countries have learned a lot and like to improve trade relations.
FIEO, President, M Rafeeque Ahmed, while exchanging views at inaugural ceremony of India Expo 2012 articulated that to enhance Indo-Pak bilateral trade, India Expo 2012 is only beginning of a long journey between FIEO and KCCI and he would like to reciprocate to their nice gesture by extending similar privilege to them in India.
President FIEO apprised that India-Pakistan bilateral trade for the year 2011-12 is to the tune of USD 2 bn and the balance of trade is in favour of India with USD 1.54 bn of exports, and USD 400 million of imports.
The current April-October, 2012 exports figures of USD 834 million exhibits a growth of about 1 percent while imports during the same period increased to USD 333 million showing a jump of 42 percent from the corresponding period in 2011.
Ahmed stressed upon the need to diversify the trade from both the sides thereby helping to narrow the trade deficit. India's exports to Pakistan comprise of 8-9 major products which contribute approximately 90 percent of the total export.
The main products exported from India to Pakistan are polymers, industrial chemicals, machinery, polyester fabric and yarn. Capital goods are the strength of India, and Pakistan is importing it from other countries, India should exploit this opportunity.
He highlighted that the infrastructure issues are hindering the growth of the trade between the two countries. The land route is most competitive as carrying a container through Wagah cost USD 391 while the same through Mumbai-Dubai-Karachi cost over USD 1000.
KCCI's President Muhammad Haroon Agar in his welcome address paid tribute to the business community of two countries to support their respective governments in the recent developments to liberalize Indo-Pak bilateral trade.
He hoped signing of MOU between KCCI and FIEO will prove milestone for mutual cooperation and facilitation to business community of both countries.
Ajay Sahai, Director General & CEO of FIEO speaking at the function suggested that India and Pakistan should give preference to companies in each other's countries for exports and imports if products can be supplied at competitive prices.
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indo pak business
vasu | Thu Dec 27 07:02:44 2012
to reduce cost of products,land route is cheaper compared to sea route.Hence we should open more trade routs like wagha border coneecting all border states with Pak.Pak should also arrnge exhibition in india at other places like bangalore chennai-ahmedabad etc so that people become aware of good quality products of pak.This will boost business-employment-misunderstanding shall get dissolved.Tariff must be reduced to 5%only
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