Karachi, May 7 (IANS): Annual trade between India and Pakistan could reach $10 billion once both countries begin export and import through the Integrated Customs Check Posts at Wagha border, Indian High Commissioner Sharat Sabharwal said Thursday.
Construction work on the check posts has been started by the Indian authorities and is expected to be completed before the end of 2011, Sabharwal said at the luncheon meeting hosted by Pakistan Federation of Chambers of Commerce and Industry (FPCCI) here.
The ICCP would be equipped with all modern facilities which will help traders from both sides to ship their consignments speedily, he said, adding that there is a trade potential of $10 billion between the two neighbours and it could easily be materialised if done through official channels.
"Trade and greater economic integration can make an effective contribution to eliminating poverty from the region and elevate the living of at least 350 million people living in absolute poverty in the South Asian region," he was quoted as saying by Online news agency.
Sabharwal said that India has suggested to open up the land route of trade between the two countries via Khokhrapar-Munabao route.
About opening up the Indian Consulate in Karachi, he said the Indian government had accepted this demand and had renovated its consulate building few years back but it requires Pakistan's government approval.
He noted the idea of creating SAARC Shipping Line owned by SAARC countries and said that this proposal would be passed on to the quarters concerned.
Regarding issuance of five-year multiple visas to 500 businessmen of SAARC Chamber, he said that he would refer this proposal to the SAARC secretariat.
Earlier, President of Pakistan-India Chamber of Commerce and Industry, S.M. Muneer, said in his keynote address that the two countries should not mix trade with politics and the business community should be allowed to carry out trade without hurdles.
"We should find a way to boost bilateral trade and ring all the unofficial trade through transshipment into legal channels," Muneer said.