SAARC Chamber of Commerce and Industry (CCI) President Ruwan Edirisinghe Monday congratulated United Business Group (UBG) central chairman and SAAARC CCI Senior Vice President Iftikhar Ali Malik for sweeping his group in Federation of Pakistan Chamber of Commerce and Industry (FPCCI) annual elections and termed newly elected president Engineer Daru Khan Achakzai harbinger not only for the country but also in the region.
In his telephonic talk to Iftikhar Ali Malik here today, President Ruwan underscored that Pakistan’s support for boosting of trade, investment, and business among the member countries was of key importance. He also appreciated Iftikhar Malik for introducing a merit based electoral system and true democratic culture in the business politics and hoped that high profile new leadership of federation would bring forward highly competent business professionals to lead FPCCI. He also felicitated Daru Khan on being elected with majority vote as the president of FPCCI and appreciated the wisdom of UBG leadership for nominating a distinguished business leader for this esteemed position.
He further said Pakistan has been instrument in strengthening regional cooperation under the SAARC process. He said he believed that more Foreign Direct Investments (FDIs) can be secured for SAARC if we collaborate, rather than unhealthy and non productive competition. Even trade within the SAARC countries is less than 6 percent, which is a big question mark, he deplored.
Ruwan Edirisinghe said an investment-friendly environment to promote trade in the region if appropriate steps are taken timely to remove trade barriers and streamline custom procedures, intra-regional trade in South Asia would nearly quadruple from the current USD 28 billion to over USD 100 billion.