Islamabad— Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry has lauded the keen interest of Prime Minister of Pakistan Imran Khan for developing peace with India in order to promote bilateral tradethat he showed while addressing the ground-breaking ceremony of the Kartarpur Corridor at GurdwaraDarbar Sahib.
He termed it a healthy gesture by the Pakistani leadership that should be reciprocated with equal determination and resolve from the other side of that border in order to start a new era of growing trade between the two immediate neighbors.
Ahmed Hassan Moughal said that according to a latest report of World Bank, without trade barriers, Pak-India bilateral trade has the potential to increase up to $37 billion per annum while the existing volume of two-way trade was mrely$2 billion. It showed that the people of the two countries have been kept deprived of the fruits of growing trade that could uplift their living standard and bring prosperity in their lives.
He said the countries around the world harnessed the potential of intraregional trade to prosper together with the neighbors. He said that intraregional trade accounted for 50 percent of total trade in East Asia and the Pacific and 22 percent in Sub-Sarahan Africa. However, due to tense relations between Pakistan and India, the intraregional trade in South Asia was only 5 percent of its total trade. He said this was not a good trend as it was depriving the people of South Asian region from the great prospects of progress and prosperity. He stressed that the leadership of both countries should demonstrate strong determination to move forward and focus on promoting bilateral and regional trade in order to usher in an era of economic prosperity for the whole region.