ISLAMABAD- The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) today asked Pakistan and India to resolve outstanding issues to increase bilateral trade. Pakistan shouldn't delay granting Most Favoured Nation (MFN) status to India as further hesitation is not in the interest of the two neighbors, said Zakria Usman, President FPCCI.
Speaking to the business community, he said that trade between Pakistan and India had doubled in the last two years to US$ 2.7 billion. He said this trade can be pushed up to US $ 8-10 billion in the short term while the real potential is around dollar 50 billion per annum. Enhanced trade between Pakistan and India will not only benefit the two economies but will also serve to increase trade among regional countries which will ultimately fulfill the dream of regional integration, he said. Zakria Usman said strong political will is needed by the policymakers of the two governments to realize the actual trade potential which can be achieved by easing visa restrictions, lifting tariff as well as non-tariff barriers, improving infrastructure and bridging information gap.