Pak-India good relations are vital for the economic development of the two neighborly countries and for South Asia at large. This was observed by Tariq Saeed, President, SAARC Chamber of Commerce & Industry while delivering his farewell address at Islamabad Chamber of Commerce & Industry.

He said though India is emerging as a strong economy, but asserted that it can never become an economic power without normalizing its relations with Pakistan. He was of the view that instead of spending billions on defence, both countries should focus on enhancing bilateral trade and investment to improve their economies and uplift the living standard of their poor people.

Tariq Saeed said war was no solution of problems and all issues are finally settled through negotiations. He said during his recent tour to India, he met with 22 Indian parliamentarians and they all also said that dialogue was the only best option for resolving all issues between the two countries including Kashmir.

President SAARC Chamber was highly critical of the interest-based economic system which was the root cause of current global economic recession forcing about 70-80 countries into default and due to which Pakistan’s foreign debt has accumulated to US$ 55 billion.

He said economic growth without its trickle down effect to the common man was of no benefit and Pakistan should make economic policies with major focus on improving the lives of poor people.

He said China’s exports have now reached US$ 1300-billion, India’s US$ 178-billion while Pakistan’s exports were still below US$ 20-billion. The reason was that China lured investment from throughout the world by making good policies and Pakistan should also develop investment friendly policies for better economic growth.

Tariq Saeed on this occasion highlighted the role of SAARC Chamber of Commerce in promoting regional trade in South Asia and hoped that his successor will take forward his initiatives to bring businessmen of SAARC further closer for the collective benefit of SAARC Region. He said he was the only businessman in the world who had the privilege to address the UN.

In his closing remarks, Karim Aziz Malik, Vice President, Islamabad Chamber of Commerce & Industry paid rich tribute to the valuable services of Tariq Saeed for business community and for promoting Pakistan’s interest at world forums. Zafar Bakhtawari performed the role of stage secretary of the ceremony. Ashan Zafar Bakhtawari, Vice President ICCI presented shield to Zubair Ahmed Malik in recognition of his services to SAARC Chamber of Commerce & Industry.