NEW DELHI: As part of the agreement, CII and Young President Organisation (YPO), a network of Pakistani business leaders, set up an India-Pakistan CEO's Business Forum that will have industry captains from both countries as members. The forum will meet at least every six months to enhance networking opportunities, facilitate relationship building and increase bilateral trade and investment, said a joint CII and YPO statement. Amin Hashwani, co-chairman of India-Pakistan CEO's Business Forum and managing director of Karachi-based Hashwani Group of Companies, said business community in India and Pakistan must join hands to increase trade between the two countries. "There is lot of goodwill between the governments in India and Pakistan and this is the right time for the business community in the two countries to seize the opportunity," Hashwani said at the launch of the business forum. "We can actually compliment the efforts of the political leaders in our countries and help initiate discussions on trade policy and procedures." Bilateral trade between India and Pakistan is currently less than one percent of their global trade. India and Pakistan have official annual trade of around $200 million, but exports through third countries total nearly $1 billion. Experts say trade could rise to nearly $4 billion if the two countries start trading with each other directly. Pakistan maintains a "permissible list" of 600 items like chemicals, minerals, metal products, cardamom and tyres that may be legally imported from India. Most finished products and white goods are not part of this list. Hari Bhartiya, co-chairman of India-Pakistan CEO's business forum and managing director of New Delhi-based Jubilant Organosys, said Pakistan offered huge market potential for Indian companies. "The volume of trade between the two countries will definitely grow at a rapid speed in the years to come. Indian industry is very keen to do business with their Pakistani counterparts," he said.
Source: IANS