ISLAMABAD: Focus on regionalism and economic interdependence is the only way to ensure sustained peace and prosperity in this volatile region, a business leader said here Tuesday.
"Different constraints including cost and culture has left globalisation incompatible for many countries while regionalism is growing globally," said Tariq Mehmood, President Attock Chamber of Commerce and Industry (ACCI).
Speaking to business community here at FPCCI Capital Office, Tariq Mehmood said that the rise of Asia will be difficult unless majority starts believing in enhanced trade and avoidance of conflict.
He said that regional trade integration is imperative for development which requires harmonizing customs procedures and the regulatory framework.
Tariq Mehmood, who is also Director Pak-UK Business Council and Chairman FPCCI Committee on Health, said that a successful system like Pakistan Computerised Clearance System (PaCCS) should be installed at all the border crossings between Pakistan and India.
It will improve linkages and ensure exchange of data enabling usage of export document of one country as the import document of the other country, he said.
He said that harmonisation of procedures, technical and quality standards and reduced human interaction will automatically eliminate many trade barriers.
On the occasion, Samina Fazil founder president of Islamabad Women Chamber of Commerce and Industry, (IWCCI) said that reintroduction of PaCCS will reduce costs, maximize efficiency and hike tax collections.
She remarked that Web-Based One Custom (WeBOC) is faulty with incomplete database which has been depriving traders of time, money, and rebates.
Malik Sohail, Chairman Media FPCCI said that extending WeBOC without fixing glitches, audit, certification, and transparency will hurt the interests of importers.
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