SAARC CCI president for promoting regional trade, july 23, 2020

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SAARC CCI president for promoting regional trade, july 23, 2020

ISLAMABAD-SAARC Chamber of Commerce and Industry President Iftikhar Ali Malik Thursday reiterated the resolve of promoting regional trade among SAARC countries to turn it into developed and prosperous region.

The newly elected SAARC CCI head visited Islamabad Chamber of Commerce and Industry (ICCI) and said promotion of intra-SAARC trade would be his top priority while addressing the business community.

He said the SAARC region is one of the largest markets in the world and only by promoting trade among SAARC countries can poverty and unemployment be reduced from the region and the living standards of the people be improved.

He said he will do his utmost to strengthen ties among the business community of SAARC countries to improve regional trade.

He also urged the government to make every effort to improve Pakistan's trade with SAARC countries which would help stabilize our economy.

UBG Patron-in-Chief S M Munir, Secretary General Zubair A. Tufail, Sheikh Khalid Tawab, President Muhammad Ahmed Waheed, ICCI Senior Vice President Tahir Abbasi and others were also present at the occasion. Founder Group hosted lunch in honor for the visiting guests.

Munir, in his address, said Pakistan's economy is currently facing severe difficulties due to COVID-19 pandemic and urged that the government should focus on promoting industrialization by creating a conducive environment.

It will attract more investment, create new jobs, improve tax revenue and bring stability in the economy, he added.

Expressing his views, ICCI President Muhammad Ahmad Waheed, said the ICCI in cooperation with SAARC CCI would play role to further enhance Pakistan’s trade with SAARC countries.

He said Pakistan has been facing frequent trade and fiscal deficits and these problems can be reduced by boosting exports.

However, he said the refunds of exporters to the tune of around Rs250 billion are stuck up with the government due to which the business community is facing difficulties in promoting exports.

Therefore, he demanded that the government should clear all the outstanding refunds of exporters to help improve exports and address the issue of trade and fiscal deficits.

He said election of Iftikhar Ali Malik as SAARC CCI president is an honor for Pakistan and hoped that under his leadership, SAARC chamber will emerge as a stronger regional trade body to promote regional trade.

Tahir Abbasi thanked Iftikhar Ali Malik, S M Munir and other guests for visiting the chamber.

UBG Secretary General Zubair Tufail, Sheikh Khalid Tawab, Founder Group Chairman Mian Akram Farid and others also expressed their views and urged the government to address the key issues of the business community on priority that would help in reviving the business and economic activities in the country.