Pakistan industry complained of non-tariff barriers including difficulty in getting visa, while doing business with Indian counterparts.
Pakistan industry on Tuesday complained of non-tariff barriers including difficulty in getting visa, while doing business with Indian counterparts.
"Both the countries have the potential to take the bilateral trade to a higher level. But there are few issues hindering the trade between the two nations and India needs to address them," Leader of Pakistan delegation to India, Abdul Qayyum, said at a function organised by PHD Chamber here.
hese issues include delay in customs clearance of goods and difficulties in issuance of visa to businessmen, he added.
Qayyum is heading a 30-member business delegation from Faisalabad, which is the textiles hub of Pakistan.
Pakistan High Commissioner to India, Shahid Malik, yesterday said to boost the two-way trade, both the nations are expected to finalise a new visa agreement.
This is aimed at making it easier for certified businessmen from both sides to get one-year multiple-entry, non-reporting visas.
Talking about the informal trade via third countries like the United Arab Emirates (mainly Dubai), Qayyum said: "The informal trade is higher than the direct bilateral trade between the two countries. Therefore, we need to address this issue to give a fillip to our trade relations".
Currently, the bilateral trade between the neighbours is pegged at $2.7 billion, which is largely in favour of India. However, the two-way trade through third country is estimated to be $10 billion.
Besides, Pakistan is expected to grant India the Most Favoured Nation (MFN) status by this year-end, paving the way for a direct, comprehensive and broad-based economic engagement. It has recently notified its negative list for India, which means barring 1,209 items, New Delhi can now export all products to the neighbouring country. The negative list contains products like automobiles and textiles.
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