The Options & Futures Guide
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I compliment the CII on taking this step in furtherance of Prime Minister's initiative to expand economic cooperation and people-to-people contacts with Pakistan. The invitation to businessmen of both countries to interact in such a forum would help in focussing on the challenges as well as the opportunities not just in Indo-Pak trade and economic relations but also the larger relationship and the global context.
It will also be useful for finding new approaches for the future and discovering complementarities between our two economies. Friends, as jenab trading options of you are aware there has been a significant change in India-Pakistan relations since Prime Minister Vajpayee extended his hand of friendship to Pakistan once again on April 18, and Prime Minister Jamali spoke to him on phone on April A number of important steps have been jenab trading options to advance people-to-people contacts.
The Delhi-Lahore Bus service jenab trading options resumed. There is now jenab trading options regular flow of people across the Wagah border. I am particularly happy that all of you have come through Wagah border. Some of the important developments since April, include:. As is obvious, a great deal of progress has been made. Unfortunately, jenab trading options are also areas where we have not been able to move forward.
For example, the first round of Civil Aviation talks have not proved as productive as we would have liked them to be. A Tea Trade delegation and a team of jurists from India were denied visas to go to Pakistan for reasons which remain a mystery to us.
We, however, do not intend to allow these setbacks to cool our enthusiasm in any manner. Jenab trading options are committed to persevering with the process of normalizing the relationship. The need for greater economic interaction between India and Pakistan is a self-evident reality.
Facts and figures of India-Pakistan trade speak out loud in this regard. This miniscule and unnatural figure is about a quarter or so of trade jenab trading options India and other countries of the sub-continent like Bangladesh and Sri Lanka.
But, even that is only a glimpse of the potential that exists. Moreover, enhanced trade jenab trading options lead to increase in investments in communications and infrastructure. It would attract large investments from outside to both our countries. There would also be a whole range of other spin-off benefits, such as, jenab trading options revenues generated jenab trading options taxes, increased employment jenab trading options higher incomes. May Jenab trading options also mention that reports prepared by our Chambers of Commerce indicate that normal trade between our two countries would benefit in particular, Pakistan's exports which would become more competitive due to cheaper raw material and jenab trading options from India.
One of the businessmen who was part of the Federation of Pakistan Chambers of Commerce and Industry delegation told me that in the absence of direct trade, he had no option but to purchase textile machinery manufactured in India from Dubai. This is an unfortunate situation. We should ask ourselves who is jenab trading options from this absence of direct trade between India and Pakistan. Why are we denying ourselves the benefits of trading with each other?
What are the elements which are preventing such commerce and how can we change them? Friends, despite the ups and downs in India-Pakistan relations, India has continued to extend the Most Favoured Nation treatment to Pakistan. India seeks normal trade relations with Pakistan. We would like to promote trade in a manner that people of both countries benefit. It is for this reason that we have supported CII's efforts to organize a 'Made in Pakistan' products exhibition in India.
There is a perception that India maintains certain non-tariff barriers. Let me declare in unambiguous terms that if there are any Pakistan specific restrictions, the Government of India will strive for their removal. Naturally, it is our hope that Pakistan, will also sooner rather than later, give India the Most Favoured Nation treatment and remove all non-tariff barriers.
Along with steps such as the above, we should sincerely work towards more effective arrangements under SAARC. I hope this goal will materialize some day. I dream of the day when South Asia, through mutual agreement, creates one currency, one tariff regime and agrees to free movement of goods, services and people throughout the region.
We, in India and Pakistan, have allowed our differences to overwhelm our commonalities so far. We have failed to provide adequate space for our natural complementarities to assert themselves. India's commitment to the building, through dialogue, of a relationship of durable peace, stability and cooperation was underlined by our Prime Minister when he recorded at the Minar-e-Pakistan in February, that a 'stable, secure and prosperous Pakistan is in India's interest'.
As jenab trading options, we cannot wish each other away. We need to learn to deal with each other as two mature nations and accept each other's reality. I am aware that there are many voices in Pakistan which echo similar sentiments towards India.
It is our hope that these sentiments can slowly but steadily drown the shrill cries of hostility between jenab trading options. The people-to-people contacts which have been initiated since the Prime Minister's Srinagar initiative reveal the extraordinary amount of goodwill jenab trading options exist in both countries for each other, particularly at the common man's level.
There are jenab trading options peace constituencies in both countries and CEOs such as you gathered here, are important leaders of such peace constituencies. I believe that these peace constituencies should be encouraged and strengthened by the Governments of both countries. Friends, I am often asked the question if India's foreign policy is Pakistan centric.
I have responded to this several times in jenab trading options past and do so again today. There is a wide world out there with whom India jenab trading options seeking to build good relations.
In the best traditions of Indian foreign policy, we strive to strengthen relations with all countries of the world. We would like to see close economic, political, social and people-to-people linkages with all countries. India, therefore, has no intention or desire to be Pakistan centric in our policies. At the same time, jenab trading options hope that Pakistan will also succeed in shedding its obsession with India. For example, the practice of turning every international and multilateral forum into a jenab trading options to attack each other should end.
While our respective domestic media exult in the coverage of such verbal duels, the sad reality is that they lower of the standard of debate of the entire forum in which they take place and are a major source of embarrassment to all those forced to witness this unseemly spectacle.
Let us put an end to this practice. The forthcoming UNGA will be a test of this. I am convinced that this Forum will make an important contribution to improvement in relations between our two countries.
I welcome the initiative to organize an exhibition of Pakistani products in India and the setting up of the India-Pak trade website. These measures, I am sure, will open up new windows of opportunity for interaction between our peoples and it is through such interaction that we are going to ultimately succeed in transforming the relations between our two countries.
I wish you all success in your deliberations and jenab trading options you will have a pleasant and enjoyable stay in India. Ministry of External Affairs. Some of the important developments since April, include: Exchange of Parliamentary delegations Visit of a member business delegation from the Federation of Pakistan Chambers of Commerce and Industry. Fashion show in Karachi by some leading Indian fashion designers, and a jenab trading options reciprocal event in Delhi.
Visit by a member delegation of journalists and MPs from India to Pakistan. Mutual release of civilian prisoners and fishermen. A decision to facilitate the visa requirement of Pakistani children coming to India for medical treatment and to fully fund the travel, stay and medical treatment of 20 Pakistani children taking into account the popular response to the Noor Fatima case.
Resumption of sporting ties. Innovative new ways to expand jenab trading options and economic cooperation including jenab trading options the establishment of this Forum.