India on Monday strongly advocated the establishment of "South Asian Union" as it sought to enhance the bilateral trade - with Pakistan - which had the potential to touch $6 billion.
Addressing the third meeting of Indo-Pak Chamber of Commerce in New Delhi, External Affairs Minister Yashwant Sinha said, "Even as we implement fully the South Asian Association for Regional Cooperation charter, we should start thinking of a South Asian Union. If other regions could achieve this kind of union despite the political, social and economic differences, there is no reason why we should deprive our people of this opportunity."
"I repeat this here today to show India's commitment to the concept of a South Asian Union," he said, speaking at the conference on Indo-Pak trade in which a business delegation from Pakistan is participating.
Pointing out that he did not wish to underplay the differences that existed between both the countries, Sinha said the two sides had the potential to reach the level of $6 billion from the current meagre levels.
Terming the visit of the delegation as a reminder of the Lahore bus peace initiative, Sinha said it was a reflection of the unfulfilled yearnings of the people of the two countries to find ways to contribute to enhanced trade and economic exchanges.
He sought to allay apprehension that the larger economy will swamp the smaller neighbouring economy, saying such fears were not borne out by reality.
