Karachi: Siraj Kassam Teli, Chairman Businessmen Group and former President KCCI inaugurated India Expo 2012, an Indian multiproduct showcase here Friday organized by Federation of Indian Export Organizations (FIEO) with association of KCCI.

Speaking at the inauguration ceremony, Chief Guest Siraj Kassam Teli, Chairman Businessmen Group asserting upon the need to create new Indo-Pak trade synergies for economic integration stated that once Indo-Pak business executes in real sense, both countries would be not dependent on other countries for economic cooperation. Indo-Pak trade nexus will also activate intra-SAARC trade.

He said that during last one decades business communities of two countries have learned a lot and like to improve trade relations. He was of the view that political relations should not affect the positive business developments between business communities of two countries, positive developments should not slow down and businesses should not suffer.

He hoped that the Indo-Pak business communities would fairly and sincerely entertain each other. He observed that pace of economic growth in South Asia was slow and intra-regional trade in SAARC block was very nominal as compared to ASEAN and EU. He said that some business friends may have apprehensions on Indo-Pak trade however, he personally feel Indo-Pak bilateral trade will benefit Pakistan. Increased Indo-Pak private sector business integration is imperative to remove apprehensions and bureaucratic hurdles. He also emphasized to officially channelize the trade between two countries in practice from Dubai and elsewhere.

Karachi Chamber of Commerce & Industry’s President Muhammad Haroon Agar in his welcome address highlighted that KCCI is a flag-bearer of Pakistan in front of the global business hemisphere. In pursuit of excellence since 1959, this prestigious Chamber of Pakistan has left no stones unturned to promote trade and industry under its visionary leadership. He paid tribute to the business community of two countries to support their respective governments in the recent developments to liberalize Indo-Pak bilateral trade. He hoped signing of MOU between KCCI and FIEO will prove milestone for mutual cooperation and facilitation to business community of both countries. He informed that he has planned to allocate one complete hall for Indian Pavilion in 10th My-Karachi Exhibition scheduled to be organized from 5th to 7th July, 2013. He said that KCCI also intend to organize one exhibition of products made in Pakistan in India during first quarter of 2013.

Federation of Indian Export Organisations’ President Rafeeque Ahmed Mecca said that to enhance Indo-Pak bilateral trade, India Expo 2012 is only beginning of a long journey between FIEO and KCCI and he would like to reciprocate to their nice gesture by extending similar privilege to them in India. He apprised that FIEO is an apex trade promotion body set up by Ministry of Commerce to promote International trade having more than 14 offices in India and organizes more than 50 international exhibitions across the globe. FIEO board comprises Export Promotion Councils and Commodity Boards and represents in various committees of the Government in their decision making.

Ajay Sahai, Director General & CEO of FIEO suggested that India and Pakistan should give preference to companies in each other’s countries for exports and imports if products can be supplied at competitive prices. For example sugar can be exported from Pakistan to India which would help in softening sugar prices in the country while petroleum exporters from India could reduce the price of petroleum products in Pakistan by USD 14 per barrel giving a saving close to USD 2 billion for its economy.

Tariq Huda, Director General TDAP, also exchanged views on this occasion.