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Dec 10, 2012, 04.40 PM IST | Source: PTI

PHD inks MoU with Pak Chamber for boosting trade

PHD inks MoU with Pak Chamber for boosting trade

Amritsar, Dec 8 (PTI) Pakistan's Sargodha Chamber of Commerce today signed a Memorandum of Understanding (MoU) with PHD Chamber of Commerce for mutual cooperation in providing fillip to bilateral trade between two nations. The visiting delegation of Sargodha Chamber of Commerce and Industry (SCCI) led by Zia Amin Sheikh and PHD Chamber of Commerce and Industry led by R S Sachdeva, Co-chairman Punjab Committee signed MoU, a PHD release said. Sachdeva said both the chambers will facilitate exchange of information on products, respective buyers, sellers and service providers in their respective countries. Sachdeva further informed that both chambers would plan strategic trade delegations to the countries. Further, as per the MoU, joint exhibitions for products and services in India and Pakistan shall be organised in both India and Pakistan. Terming the signing the MoU as historic, Naeem Anwar, Trade Counselor, High Commission of Pakistan said with the execution of this MoU "the barriers which we never thought will be shed and give way to better trade ties". He informed that India and Pakistan were equally concerned about removing the trade barriers. Anwar said Pakistan will also bring down all duties to 5 per cent in a phased manner. Dalip Sharma, Regional Director, PHD Chamber said, "We can fetch a lot of bilateral trade between Pakistan and India which can go upto USD 10 billion from the present USD 2.7 billion within 2-3 years, besides cutting down on the illegal trade." PTI CHS KSR

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