CHANDIGARH: Bilateral trade between India and Pakistan has registered a growth of 74 per cent during the last fiscal, increasing to $ 600 million from $ 344.5 million over the previous year. While it is difficult to estimate the actual potential, captains of industry and trade expect that in light of the ongoing efforts between the two countries the positive trend would continue.

These views were expressed by the Chairman of the Punjab Committee of the PHD Chamber of Commerce and Industry, Amarjit Goyal, while talking to reporters here. He said to provide impetus to bilateral trade, the chamber, which came into existence in 1905 in the undivided Punjab, would organise the inaugural Indo-Pak International Expo (IPEX)-2005 at Amritsar. Punjab Chief Minister Amarinder Singh has invited his Pakistani counterpart, Pervez Elahi, to inaugurate the exhibition on November 30, this year.

Pak. agrees to support

The government of Pakistani Punjab has also agreed to support the event. The Chambers of commerce in Pakistan have been cooperating with PHDCCI to ensure participation of exhibitors from their country. While about 100 exhibitor companies are expected from Pakistan, at least 200 Indian companies would participate in the exhibition, Mr. Goyal said.

Co-chairman of the chamber's Punjab committee, R.S. Sachdeva, said that though bilateral trade between the two countries stood at $600 million, the estimated informal trade volume in 2004-05 figured $2 billion involving goods like chemicals, industrial machinery, cement, tyres, tea, medicine, video tapes, cosmetics and viscose fibre. These goods found their way through third markets such as Dubai and Singapore.

Direct trade

Mr. Sachdeva stressed that all trade should be carried directly, which would benefit the industry, trade and consumer sectors in both countries. He said besides textiles, trade potential existed in other sectors like tea, coffee, textile machinery, chemicals, sports goods, surgical equipment, leather and leather products and iron ore.

Giving details about the IPEX 2005, Mr. Sachdeva said that the exposition would cover all-important segments of industry including textile, IT, pharmaceuticals, food processing, agriculture, automobiles, consumer goods and infocom.

The response towards IPEX 2005 has been overwhelming from the industry with companies from all over India showing keen interest, he claimed.

Opening of trade through Wagah border will not only enhance bilateral trade but also facilitate Indian export to other markets beyond Pakistan and Iran. It would benefit the economies in Punjab on both sides of the border, as indigenous industry would become more efficient and globally competitive by saving costs incurred through exporting goods via surface transport.

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