TDAP educates on trade normalization with India
Trade Development Authority of Pakistan organized a seminar at the Rawalpindi Chamber of Commerce and Industry on trade normalization with India. It was the first of a series of ten seminars being arranged by TDAP in different cities to educate the business community about the challenges and opportunities resulting from the new trade regime between India and Pakistan.
Dr. Manzoor Ahmad, former Pakistan Ambassador to WTO, gave an overview of the trade normalization process between India and Pakistan. He said smaller countries can also gain advantage by developing trade relations with bigger economies. He cited the example of Turkey and Mexico which gained tremendously after enhancing their trade relations with EU and US, respectively. He said that the agreements on mutual recognition and customs cooperation being signed between India and Pakistan would help in removing the non-tariff barriers being imposed by the Indian government.
Javed Akhtar Bhatti, President, Rawalpindi Chamber of Commerce and Industry, expressed his apprehensions whether Pakistan was geared enough to benefit from trade normalization with India in the wake of power shortage and weak regulatory structures in the country. He however, agreed with the significance of regional trade in economic development of a country.
The seminar was attended by over a hundred businessmen representing various sectors of the economy, besides officials from the Ministries of Commerce and Textiles, Pakistan Pharmaceutical Manufacturers Association, Pakistan Poultry Association and All Pakistan Marble Industries Association.