FIEO Organises India Show at Karachi

India Expo 2012 Inaugurated in Karachi; Aims at further enhancing bilateral trade between both the countries; Need to provide better infrastructure to facilitate trade says M Rafeeque Ahmed, President, FIEO

India Expo 2012, a multiproduct exposition was inaugurated at Karachi Expo Centre in Karachi on Friday, 21 December. Organised by Federation of Indian Export Organisations in association with Karachi Chamber of Commerce and Industry, the India Expo was inaugurated by Siraj Kassam Teli, Chairman Businessmen Group and former President KCCI.

Intra-regional trade in SAARC block is nominal as compared to ASEAN and EU.

Federation of Indian Export Organisations’ President M Rafeeque Ahmed said that India–Pakistan bilateral trade for the year 2011-12 is to the tune of $ 2 bn and the balance of trade is in favour of India with $ 1.54 bn of exports, and $ 400 million of imports.

India’s exports to Pakistan comprise of 8-9 major products which contribute approximately 90% of the total export. The main products exported from India to Pakistan are polymers, industrial chemicals, machinery, polyester fabric and yarn. Capital goods are the strength of India, and Pakistan is importing it from other countries, India should exploit this opportunity. The land route is most competitive as carrying a container through Wagah cost US$ 391 while the same through Mumbai-Dubai-Karachi cost over US$ 1000. Multiple entry Visa regime will be introduced from January, 2013 which will be a big boost for bilateral trade. He also said that both the countries would require presence of local banks on both the sides to give requisite confidence to importers/exporters.

Karachi Chamber President plans 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.