KARACHI (February 27 2010): Resumption of talks between India and Pakistan would greatly benefit to foster economic co-operation in the region. This was stated by Annisul Huq, President, Saarc Chamber of Commerce from Bangladesh, Tariq Sayeed and Iftikhar Ali Malik, Vice President, Saarc CCI from Pakistan in a statement issued here on Saturday.

Annisul Huq said that region has the immense economic potential, which remains untapped due to political issues in South Asia particularly between two major states, which form 70% of the regional economy. Their impact of their relationship on intra-South Asia trade and economic co-operation is enormous; therefore, resolution of issues between them will be in the best interest of the region.

Tariq Sayeed, Immediate Past President, S Saarc CCI said that in the year 2008, intra-Saarc Trade potential was estimated about $40 billion, however, the regional could trade about $11 billion, which indicated that 73% potential could not be tapped due to certain problems in the region, volatility of Pak-India relations, being one of the major factors, responsible for below potential trade.

He urged the governments of India and Pakistan to restart composite dialogues, which was only possible measures to resolve all issues between them. Iftikhar Ali Malk, Vice President, Saarc CCI said that instable relations between Pakistan and India has negatively affected people-to-people contact and has shaken the confidence of the business community across the border.-PR

Copyright Business Recorder, 2010