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October 20, 2007 19:08 IST
India and Pakistan are negotiating a new business visa agreement that will help mitigate problems faced by entrepreneurs travelling between the two countries.
Revealing the initiative, India's Deputy High Commissioner Manpreet Vohra said there was scope for Pakistani businesses to forge joint ventures with their Indian counterparts in the CNG sector.
"The Indian government is making moves to convert the country into a global manufacturing hub and efforts are afoot to expedite business with neighbouring countries including Pakistan," Vohra said while speaking at the Lahore Chamber of Commerce and Industry (LCCI).
Noting that Pakistan has now become one of the leading consumers of CNG, he said India has the most modern technology in this sector.
Both Pakistan and India are making rapid economic progress despite a number of policy constraints and the trade volume between the two countries had doubled when compared to last year.
"This is enough to make the point that the potential is enormous," Vohra said, adding that there is no restriction on the import of cement from Pakistan through the Wagah land route.
He highlighted the need for exchange of delegations and joint exhibitions to increase bilateral trade.
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