KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee on Horticulture and Food Exports Chairman Ahmad Jawad has said that Indian and Pakistani businesses must work together to find areas of mutual interest.
“The governments of both countries need to take a step back and businesses must take the initiative, this is the only way to increase trade and investment and deepen relationships within the South Asian economies,” Jawad said in a statement on Monday.
Jawad added that India and Pakistan have different seasons for the same crops hence, the two neighbouring countries can tackle problems of gluts and shortages of commodities if they work together. The trade opportunities are immense, provided both countries respect each other’s interest by providing level playing field to their agriculture sector, he added.
In today’s scenario, he said, the terms economic union and economic cooperation have gained momentum. The implemented and impending policies for forming trade alliances have their source in the discipline of international trade and economics. To study wider regional cooperation, it is important to have knowledge of international economics, to know what international trade theories are and how they specifically apply to Pakistan and India trade relations.
As Pakistan is producing cement, textiles and ceramics due to its labour expertise and resource availability, it is very hard for Pakistan to compete with India in the software sector and with China in electronics and gadgets. Now it is equally expensive for these countries to compete with Pakistan on the aforementioned sectors. Each specialises in its own area of expertise.
Published in The Express Tribune, October 20th, 2015.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.