Business community hails talks with India

ISLAMABAD: Pakistan's business community on Sunday welcomed the upcoming foreign secretary-level talks with India, terming it a highly positive step that could result in many benefits for the people of both countries.

At a meeting here of the Islamabad Chamber of Commerce & Industry, its members said both countries are endowed with plenty of human and natural resources and they should establish an atmosphere of mutual trust and confidence to harness these for strengthening their economies and uplifting the living standard of their people.

Chairing the meeting, chamber president Zahid Maqbool said that peaceful and friendly relations between India and Pakistan are essential to promote bilateral trade and economic relations and to exploit the full potential of each other's comparative advantage in different fields.

He said there were vast untapped trade and investment possibilities between the two countries that can be gainfully exploited with significant welfare gains and opportunities to alleviate poverty and strengthen human security. Towards this, the two neighbours should take proactive measures to exploit untapped areas of economic cooperation.

He said the people of both countries share a common culture and traditions and could considerably enhance the current level of bilateral trade. However, peace between the two countries is the basic condition to realize their common objectives.

India and Pakistan Friday discussed the dates for talks between their foreign secretaries and the scope of their dialogue that could include other issues besides terrorism.

Pakistan's High Commissioner Shahid Malik met Indian Foreign Secretary Nirupama Rao in New Delhi Friday evening to discuss dates for the talks that are likely later this month.

This follows India's formal proposal for conducting the talks, which could lead to meetings between their foreign ministers and prime ministers on the sideline of the SAARC summit in Thimpu April 28-29.

Indian Home Minister P. Chidambaram was to have visited Islamabad for the Feb 26-28 meeting of the SAARC home/interior ministers that has now been postponed.