Pak­istan and In­dia form Busi­ness Coun­cil

Enterprise - - Snapshot -

Dur­ing a re­cent In­di­aPak­istan Busi­ness Roundtable in La­hore, Pak­istan and In­dia have formed a com­mon busi­ness coun­cil to fa­cil­i­tate ex­pan­sion in bi­lat­eral trade and pro­vide av­enues for growth in the re­gion. The agree­ment was signed be­tween Sukhbir Singh Badal, Deputy Chief Min­is­ter of In­dian Pun­jab and Shah­baz Sharif, Chief Min­is­ter of Pun­jab. The Roundtable Con­fer­ence was held un­der the pa­tron­age of the Pun­jab Board of In­vest­ment and Trade.

The Busi­ness Coun­cil, con­sist­ing of 10 mem­bers from both the coun­tries, will take steps to es­tab­lish joint in­dus­trial zones, hold busi­ness con­fer­ences and strengthen trade re­la­tions. Speak­ing on the oc­ca­sion, Badal said, “To­day’s world runs on busi­ness and both coun­tries will have to work to­gether on the eco­nomic front.”

Ac­com­pa­ny­ing Badal were pro­vin­cial min­is­ters, in­dus­tri­al­ists and busi­nessper­sons aim­ing to boost bi­lat­eral trade. Also dis­cussed at the meet­ing were the pos­si­ble op­tions of in­creas­ing trade ac­tiv­i­ties to which She­hbaz Sharif sug­gested that the two coun­tries should use the Wa­gah bor­der to re­duce costs.

Ad­dress­ing the con­fer­ence, Sharif said that wars had pushed Pak­istan and In­dia into poverty, hunger and un­em­ploy­ment. He was of the view that although his­tory has sep­a­rated the two coun­tries but also made them neigh­bours. He stressed on the need to work to­gether for the progress and pros­per­ity of the peo­ple in or­der to change the course of his­tory. In­dia and Pak­istan must live to­gether and re­solve their is­sues through mu­tual ne­go­ti­a­tions. Badal and Sharif dis­cussed var­i­ous is­sues at the con­fer­ence among, which the elec­tric­ity is­sue was on top.

Badal said that the state of Pun­jab in In­dia would be in a po­si­tion to ex­port elec­tric­ity as it was soon go­ing to achieve power sur­plus. How­ever, power ex­ports to Pak­istan would de­pend on ap­proval from the government of In­dia. Badal re­it­er­ated the need to es­tab­lish trade ties be­tween SAARC na­tions and pro­posed for Pak­istan and In­dia to take guid­ance from the Euro­pean Union as a model to im­prove their eco­nomic re­la­tions.

“Peo­ple are stay­ing at home, and the mag­ni­tude of the is­sues in Europe is hav­ing rip­ple ef­fects around the world.” Peter Bensen, Ex­ec­u­tive Vice Pres­i­dent and Chief Fi­nan­cial Of­fi­cer of McDon­ald’s Cor­po­ra­tion.

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