FAISALABAD - Indian High Commissioner in Pakistan Sharat Sabharwal on Monday said that implementation on new visa regime between Pakistan and India was started from (today) which will go a long way in the promotion and strengthening of relationship between the two neighbouring country. He said that earlier new visa policy had been agreed to be implemented from January 15, 2013.
Addressing a meeting of the members of Faisalabad Chamber of Commerce and Industry here on Monday, Sharat Sabharwal expressed the hope that the move would usher in a new chapter of friendship between the two countries. He also disclosed that a delegation of Indian businessmen would also visit Pakistan.
The Indian HC claimed that trade barriers and non-tariff barriers were falling down and substantial progress in trade relations between Pakistan and India had been achieved. India will reduce the negative list to 100 items within a year while Pakistan will reduce it to 100 items within five years," he pointed out. He asserted that Pakistan had not yet finalised the approval of MFN status to India but it had been agreed in principle. Sabharwal disclosed that three agreements had been signed between the two countries (1) customs facilitation (2) lab testing and certification from either country would be acceptable on both sides and the third agreement had been signed to establish a mechanism to resolve grievances of traders to facilitate the business community of either side and settle their disputes.
Regarding energy and gas problem the Indian High Commissioner stated that India was having surplus capacity of energy and gas for next five years and would be more than willing to help Pakistan stem its crippling energy crisis. He elaborated that gas pipeline was available within 100-km of Pakistani border and can be easily managed to extend it into Pakistan as and when required. He further stated that India had also surplus refined petroleum facilities and would be willingly able to supply to Pakistani industries. However, many meetings and interaction of both sides at various levels of Government and businessmen and industry have been held and delegations have been exchanged to facilitate problems and difficulties being faced on the either side. He said that apart from business and trade, investment climate in both the countries was right for utilization and people of both the countries should take this opportunity to invest in either country.
Regarding trade between India and Pakistan, the Indian HC cited example of a Pakistan fashion house setup in new Delhi which was successfully competing in India and having flourishing business. Commenting upon the international crossing point for trade, he said that Infrastructure facilities had been established on both sides at Wahgha Atari Border. He elaborated that a separate dedicated gate had been opened on either side to facilitate the land route between the two countries which was one km from the ceremonial gate on either side of the border.
Regarding pharmaceutical, Sabharwal pointed out that 95% of bulk supply of drugs were being supplied into Pakistan but were presently being routed through third country. Parlays are in progress to eliminate unnecessary delays and shorten the route for drugs supply to facilitate cheap and quick dispensation of pharmaceutical goods," he stressed. He emphasized on the CBMs between the two countries on sound basis so as not one could displace and derail the process between people of the two countries. About security for upcoming Pakistan Cricket team to India, Sabharwal said on Monday that Pakistani cricket team would be provided full-proof security during the tour.
Earlier, welcoming the Indian High Commissioner, FCCI President Zahid Aslam said that currently, volume of bilateral trade between Pakistan and India was around $2 billion and figure will go as high as $4 to 5b in a couple of years against the potential of $10b. However, the balance of trade has been in favour of India.
He continued that global growth poles were shifting towards South Asia and if India and Pakistan manage to promote their trade, this would mean that a huge market of 1.3b next to China could be created complementing each other's economy and better life to their masses. Pakistan with its geographical location can become regional and intra-regional trade hub for Central Asia and Middle East and even a common market can be developed of India, China, Turkey and other countries in the region. He continued that though Pakistan and India have recently undertaken initiatives to enhance trade relations between both the countries but  volume of informal trade is still by far larger than formal trade going through third country, smuggling and personal baggage as  US$3b per annum. He continued that there was a greater scope for joint ventures between India and Pakistan particularly in the area of high technology sector, medicine, textile, agriculture, telecommunication, chemicals, automobiles and education. Both the countries have similar business trends in textile and cooperation in the textile sector will create win-win situation being both leading cotton growers and textile manufacturers.