LAHORE: SAARC Chamber President Suraj Vaidya Monday has termed Pakistan Prime Minister Shahid Khaqan Abbasi’s two-day tour to Nepal a golden opportunity to explore new avenues of bilateral trade between the two countries.
The SAARC President said that improved regional trade will not only trigger development in the whole SAARC region, but also help promote bilateral business relations between Pakistan and Nepal ensuring continued partnership for progress.
Surej Vaidya expressed these views while talking to SAARC Chamber Pakistan Chapter Vice President Iftikhar Ali Malik by telephone here today from Kathmandu.
PM Shahid Khaqan Abbasi, on a two-day tour to Nepal is to congratulate the newly elected Prime Minister of Nepal Khadga Prasad Sharma Oli, and to call on President Bidya Devi Bhandari.
SAARC Chamber Chief said Nepal and Pakistan can explore products of comparative advantage favoured by specific climatic zones in both countries. The direct air link between Nepal and Pakistan, increased exchange of business delegations and establishment of display centers in each other’s countries will boost trade ties and enable both countries to enjoy increased profits.
He stated that SAARC should adopt a global approach and should focus on a wide range of activities like poverty alleviation, improvement of the healthcare sector, trade and commerce in the region. He said that South Asia comprises three per cent of the world’s area, 21 per cent of the world’s population and 3.8 per cent ($2.9 trillion) of the global economy. “The respective governments are trying to give their people a higher quality of life despite being racked by high illiteracy, dismal healthcare and poor sanitation,”.
SAARC Chamber Pakistan Chapter Vice President Iftikhar Ali Malik said Nepal and Pakistan hold excellent political relations but the existing trade relations between two countries do not reflect true potential. He emphasized the need for exchanging business delegations for enhancing trade and investment opportunities.
He said current trade volume of $1.36 million per annum was far from satisfactory. Both countries should work together in the fields of agriculture, pharmaceuticals, infrastructure and automotive industry to boost bilateral trade.
Iftikhar Ali Malik also appreciated the dynamic role of Suraj Vaidya as president of SAARC Chamber for promoting trade among the member states in the region.
