Industry chambers of India and Pakistan are scouting for enhanced bilateral trade with the help of a liberal visa regime and opening up of the Wagah border for smooth flow of business.

A 13-member business delegation led by the Islamabad Chamber of Commerce and Industry (ICCI) is currently visiting India to boost bilateral trade and identify items of import and export.

'Trade between Pakistan and India has jumped from $161.02 million in 1999-2000 to around $1 billion in 2005-06,' said Muhammad Nasir Khan, president ICCI, in a seminar organised by the PHD Chambers of Commerce and Industry (PHDCCI).

He added that there was a potential to reach $9 billion in a few years with the removal of tariff and non-tariff barriers.

The delegation is currently visiting all the leading industry chambers of India.

Earlier, the members met the Minister of State for Industry Ashwani Kumar to push for issues such as lifting visa restrictions, trade barriers and opening up of the Wagah route for trade.

In his address to the Associated Chambers of Commerce and Industry (ASSOCHAM), Khan also indicated India might get the much-awaited Most Favoured Nation (MFN) status.

In March India, under the aegis of PHDCCI, carried a high-powered business delegation to Pakistan to identify items of trade. It had decided to import wheat and cement from Pakistan, which is surplus in these commodities.

According to Pakistan, with the opening up of the Wagah-Attari border, it can export wheat at a cheaper cost.

'Pakistan has 40 percent wheat surplus and India needs wheat very urgently. With the opening up of the Wagah-Attari border, cheaper wheat exports to India could become possible, which can lead to containment of inflation in India,' Khan told Assocham.

Although the delegation is predominantly represented by Pakistan's steel sector, other sectors such as textiles, flour and pipe industries are also part of the team that will be scouting for investment opportunities in India.

The delegation will meet Commerce and Industry Minister Kamal Nath Friday to discuss issues such as easing the visa regime, especially for the business communities of the two sides, and look for ways to provide five-year multiple visas for businessmen.

Sightseeing and shopping are also high on the agenda of the visiting delegates from Pakistan, besides savouring a few famous dishes that the Indian capital has to offer, officials said.

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