Pakistan trade envoy moots joint ventures with India

November 14th, 2007 - 2:21 pm ICT by admin  

New Delhi, Nov 14 (ANI): Pakistan’s trade envoy has said that joint ventures with India have immense potential.
“The business between India and Pakistan has a very significant potential and this is reflected not only in the theoretical action but also in the fact that our trade has grown very significantly in the last eight years,” said Tariq Ikram, Chief Executive of the Trade Development Authority of Pakistan (TDAP).
“The exports of Pakistan have also grown but the imports into Pakistan have increased even more significantly. As a result of that, our trade deficit withndia has of course increased quite a lot. But I think the potential for joint ventures and for trade enhancement by both countries is very significant,” he added.
Ikram is in New Delhi to inaugurate the Pakistani stall at the 27th India International Trade Fair 2007 today.
He lamented Pakistan’s large export profile could not be properly accommodated in the fair and a single country exhibition was on the cards next year.
“The large exporters of Pakistan and the variety of the export profile of Pakistan cannot be fully reflected. So, we plan to hold a single country exhibition of Pakistan in 2008, wherein the total industrial landscape will be reflected,” he said.
The fair will see the participation of 64 exhibitors from Pakistan. Hotselling Onyx stone artefacts and dry fruit will be among prominent displays in the Pakistan hall.
India’s exports to Pakistan in 2004-05 jumped 76 percent to 505.44 million dollars from 286 million dollars in 2003-04.
Imports from Pakistan during the same period rose 65 percent to 95.33 million dollars from 57.74 million dollars a year ago.
In 2006-07, however, Indian exports to Pakistan stood at 1348.32 million dollars, while Pakistan exports to India over the same period were worth 323.19 million. (ANI)

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