Obstacles to be removed to promote intra-SAARC trade: Kashif Anwar
Lahore (MNP) President of the Lahore Chamber of Commerce and Industry Kashif Anwar has said that a comprehensive strategy should be evolved to remove the obstacles that hindering intra-SAARC trade.
He expressed these views while presenting the address of welcome for SAARC Vice President Mian Anjum Nisar at the LCCI while Senior Vice President Zafar Mahmood Chaudhry and Vice President Adnan Khalid Butt also expressed their views. Muhammad Ali Mian, Irfan Iqbal Sheikh, Fahim-ur-Rehman Saigol, Khawaja Shahzeb Akram, Tahir Manzoor Chaudhry and LCCI Executive Committee Members were also present on the occasion.
Kashif Anwar said that SAARC outgoing President Iftikhar Ali Malik rendered matchless services for the cause of business community, trade and industry in SAARC countries. He hoped that the new management of SAARC would follow his footprint the grow the trade and economic relations of SAARC states.
LCCI President Kashif Anwar greeted Mian Anjum Nisar for being elected as Vice President of SAARC Chamber of Commerce and Industry.
He said that South Asia, home to more than 25% of the world’s population, is of great importance, but we are still in the process of finalizing a strategy to improve trade links between SAARC countries. He hoped that Mian Anjum Nisar will play his role in creating an atmosphere of trust among the member countries.
The LCCI President said that SAARC’s share in global exports is 1.9% as compared to ASEAN’s 8% share. From 2017 to 2022, SAARC’s total exports increased by 26% from $372 billion to $468 billion, while ASEAN countries’ total exports increased by 54% from $1.3 trillion to $2 trillion.
He said that if we want to highlight the importance of SAARC region, we have to remove the obstacles in the way of obtaining visas for the general public, especially businessmen, in addition to easy transportation of goods, investment and services in our respective countries.
Mian Anjum Nisar said that the lack of banking connectivity between SAARC member states is a major hurdle which is stopping the potential trade to reach its intended heights.
Mian Anjum Nisar said that Pakistan would have to control the issues of rupee devaluation, inflation and cost of doing business to ensure a mentionable share in intra-SAARC trade. He said that rupee devaluation has increased in Pakistan external debts manifold.
He said that we need to enhance our productivity and also have to indigenize our raw materials to bring down the cost of doing business.
Kashif Anwar said that there is a need to improve connectivity between SAARC countries not only through railway and road corridors, but also through ports, shipping and aviation which will facilitate and increase mutual connectivity.
He said that there is also a great need for the creation of a Regional Energy Market, which includes SAARC Power Grid and trading of electricity and other energy sources such as oil and gas and especially renewable energy technologies through the SAARC Market.
LCCI Senior Vice President Zafar Mahmood Chaudhry and Vice President Adnan Khalid Butt said that financial cooperation among SAARC countries can also facilitate bridging infrastructure gaps and increasing productivity.
Kashif Anwar said that the establishment of a SAARC Central Bank with its regional branches in all the capitals and major commercial cities of the region could also be proved useful in achieving these objectives. This proposal needs to be worked on.
FPCCI President Irfan Iqbal Sheikh said that the Lahore Chamber of Commerce and Industry is our second home and LCCI office-bearers are actively serving the business community.
Fahimur Rahman Sehgal said that Mian Anjum Nisar’s struggle spanned three decades. He said that during the COVID-19, he made valuable efforts to keep the business sector alive.
