Press Information Bureau

Government of India

Ministry of Commerce & Industry

12-April-2012 17:49 IST

Anand Sharma Inaugurates Lifestyle Pakistan 2012

Integrated Check Post at Wagha to be opened tomorrow

Shri Anand Sharma Union minister of Commerce, Industry & Textiles and Pakistan Commerce Secretary Zafar Mahmood inaugurated the Lifestyle Pakistan 2012, here today. The first 'Lifestyle Pakistan' exhibits designers in various categories like fashion textiles, jewellery, designer furniture and leather goods showcasing high-end items. The exhibition is one of the steps taken by both India and Pakistan to enhance bilateral commerce and open new channels for shipment of goods. Shri Sharma while inaugurating the event said, “It gives me immense pleasure to be in the midst of this distinguished gathering for the inaugural of Lifestyle Exhibition of Pakistan. It is heartening to see 100 exhibitors from all parts of Pakistan participating along with a big delegation of 650 people, in this show, demonstrating the best of Pakistani products”. All visitors from Pakistan are always special for all of us as it strikes a unique emotional chord in our hearts, Minister added.

Elaborating on the developments Shri Sharma stated, “if we look back at the last one year, the intensity of our engagement has been truly amazing. Within a span of less than five months, we have had two bilateral meetings at the Commerce Ministers’ level and will have a third one tomorrow within less than ten months- four meetings between our commerce secretaries and seven engagements of our Ministries’ Joint Secretaries! In addition, there have been many other Joint Working Group meetings relating to customs cooperation, trade infrastructure, possibilities of trade in electricity, visa issues and others. We have held an India Show in Lahore in February and within two months this Pakistan show in New Delhi is indeed heartening.”

Emphasizing on his earlier announcement made during the visit last year to Pakistan the Indian Minister said, “I had given a commitment that India would be in a position to open the Integrated Check Post at Wagah, constructed at a cost of US$ 30 million by April and tomorrow the Home Minister along with Makhdoom Fahim Sahib, me and Chief Minister of Punjab will be opening this Gate for trade between our countries. Imagine the potentiality of free flow of trade and how much benefit would accrue to the people of Punjab on both sides.” Normalization of trade is a first step in building an enduring investment partnership. We need to change this and an opportunity lost now may well be lost forever, he emphasized.

The Minister said, “We would like an economic partnership with Pakistan which is enduring and strong, which not only helps in strengthening the industrial activity on both sides, but also benefits the consumers. We would like to create an India-Pakistan Business Council which provides an institutional framework for regular and sustained dialogue between the business communities. TDAP and ITPO have already inked a Memorandum of Understanding and I have given mandate to the Chairperson of ITPO who is with me for intensifying the engagement with Pakistan. At a governmental level, equally, we need to sustain regularity in our exchanges.”

This is the first collaborative exhibition of Trade Development Authority of Pakistan (TDAP) and India Trade Promotion Organisation (ITPO). "There has been lot of movement in trade in the last one year, the (trade) normalisation is going very fast," Mr. Mahmood said. Mr. Zafar Mehmood, Commerce Secretary of Pakistan, Dr. Rahul Khullar, Commerce Secretary of India, Mr. Tariq Puri, CEO, Trade Development Authority of India, Mrs. Rita Menon, CMD-ITPO and Mr. Shahid Mallick, High Commissioner of Pakistan were also present on the occasion.

It is a fact that the bilateral trade which was barely US$ 300 million in 2004, now stands at US$ 2.7 billion, a 9-fold growth in a period of 7 years.

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DS/gk

Integrated Check Post to facilitate cross-border trade, enabling institutional frameworks and customs cooperation between trading neighbours. Opening of an Integrated Check Post at Wagah is presented as an infrastructure and regulatory measure to facilitate cross border trade, create predictable shipment channels, and reduce trade frictions through customs cooperation, visa facilitation and related trade infrastructure. Complementary institutional steps include intensifying ministerial and secretariat engagements, a Memorandum of Understanding between trade promotion bodies, and a proposed Business Council to provide an institutional framework for sustained commercial dialogue and bilateral trade facilitation.