Arab Today, arab today india to allow pakistani investment and open border post
Last Updated : GMT 04:36:12
Arab Today, arab today
Arab Today, arab today

Regional rivals cooperating on economic matters

India to allow Pakistani investment and open border post

Arab Today, arab today

Arab Today, arab today India to allow Pakistani investment and open border post

The neighbours seem to be reaching out with a view to strengthen ties
New Delhi - Arabstoday

The neighbours seem to be reaching out with a view to strengthen ties Traditional foes India and Pakistan said Thursday they hoped to transform trade ties and boost peace prospects at the opening of the largest Pakistani commercial fair ever staged on Indian soil. \"There is no other option but economic partnership between India and Pakistan,\" Indian Commerce Minister Anand Sharma said at the launch of the four-day show in New Delhi, a sentiment echoed by Pakistani officials.
\"We have to recognise our true trade potential... and leave our children with a legacy that ensures prosperity, harmony and peace,\" Sharma said. \"The two nations have opened up a new chapter with this exhibition.\"
The \"Lifestyle Pakistan\" show\'s opening came just days after President Asif Ali Zardari made the first trip to India by a Pakistani head of state in seven years, encouraging ties.
According to the leading Pakistani English daily, Dawn, Pakistan has brought more than 650 business people to the Indian capital for the show as commercial relations improve between the nuclear-armed neighbours.
Under current rules, Pakistani citizens cannot directly invest in India. Investment flows are unlikely to surge, but the move will go some way to addressing concerns by Pakistani businessmen that India places too many restrictions on them.
The neighbours have approved a most-favoured-nation accord to reduce taxes that hamper trade. Official two-way trade of $2.6 billion is heavily tilted in India\'s favour but unofficial trade is estimated at up to $10 billion.
The show underscored hopes voiced by the two nations that boosting trade can help peace talks which India warily resumed last year after suspending them after the 2008 attack by Islamist gunmen on Mumbai that killed 166 people.
\"A lot of movement has happened in the past year, normalisation is going very fast,\" Pakistan Commerce Secretary Zafar Mahmood said.
India and Pakistan expected to formally announce by next month new visa rules to promote business travel between the nations, he said.
\"In principle, the visa (rules) are finalised. But they need to be formally announced and approved\" by the countries, Mahmood said.
The fair showcased products from Pakistan\'s top jewellery, textile, furniture and clothes designers.
\"We have the top brands of Pakistan, high-end fashion and creative work in this show,\" Tariq Puri, chief executive of the Trade Development Authority of Pakistan, said. \"We have never had so many quality people under the same roof.\"
\"This is Pakistan\'s contemporary side,\" he said, adding increased trade represented an \"enormous win-win opportunity\" for both neighbours.
The countries, which have fought three wars since independence from Britain in 1947 -- two over the Himalayan territory of Kashmir -- are due to inaugurate a trading post Friday along their heavily militarised border. The move will sharply raise the number of trucks crossing daily to around 600 from 150 now.
The trading post at the Attari-Wagah crossing and Pakistan\'s granting of most favoured nation trading status to India could nearly triple bilateral trade to $8 billion in two years, Indian industry chamber Assocham said.
New Delhi granted the status to Pakistan in 1996 while Islamabad has agreed to reciprocate by the end of the year.
The Pakistani exhibition follows a successful \"made-in-India\" trade show in the Pakistani city of Lahore in February.
Pakistani fair participants said they looked forward to more trade.
\"We hope this new trade can overcome a lot of the misunderstanding between the countries and a new era of cooperation will start,\" Mian Ahad, one of Pakistan\'s leading furniture designers, told reporters.
\"India is a huge market with 1.2 billion people. There\'s a vast opportunity.\"

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india to allow pakistani investment and open border post Arab Today, arab today india to allow pakistani investment and open border post

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Russia, Iran ink economic deals

GMT 08:03 2017 Wednesday ,29 March

Russia, Iran ink economic deals
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 11:55 2017 Wednesday ,29 March

Need ‘gymspiration?’ The top fun fitness bloggers

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 05:17 2017 Wednesday ,29 March

Samsung to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday