SAARC members keen on boosting trade with India

Neha Saini

Tribune News Service

Amritsar, December 8

SAARC countries are keen to strengthen trade with India by overcoming their internal challenges, said delegates at PITEX, organised by PHDCCI, today. SAARC members were of the opinion that the South East Asia was a consumer market with India a major player in it.

The five-day trade expo attempts to bring biggest buyers and sellers from across the countries on a single platform for direct trade collaboration.

“Being at the confluence of trade routes connecting SAARC members, India is a natural trading partner for the South Asian countries. Despite this, our trade is remarkably low with them,” said RS Sachdeva, co-chairman, Punjab committee, PHDCCI.

According to the South Asia Monitor, India’s trade with the SAARC members was three per cent of the country’s total trade with the rest of the world. “Therefore, with a view to boost the intra-regional trade, we organised the Reverse Buyer Seller Meet (RBSM) supported by the Union Ministry of Commerce,” Sachdeva added.

Speaking on increasing cooperation, Asela Livera, deputy president of National Chamber of Sri Lanka, said, “There is a big potential for high quality and high-end products from Sri Lanka while we look for the ayurveda and its learning from our Indian counterparts.”

According to Hassib Rahimi, CEO, Kabul Chamber of Commerce and Industry, “Afghanistan expects expertise and technology from India. Also, the recent change in the government policy has made Afghanistan more centred towards the economy.” Kabul is looking to ink agreements with Indian companies in the field of agro-industries and food processing.

Similarly, Kesang Wangi, deputy secretary general, Bhutan Chamber of Commerce and Industry, said Bhutan’s import of edible products to heavy machinery from India in lieu of hydel power could open more trade avenues.

With its ‘open door policy’ for promoting direct foreign investment, Bangladesh is looking forward to enhance collaboration, partnership and cooperation for trade and investment.

“We want to establish 100 special economic zones where investors can target both domestic and export markets,” said Mohd Abu Naser, director, Federation of Bangladesh Chamber of Commerce and Industry.