<p>"In the United States' engagement with the countries of South Asia, one of our overarching objectives is to facilitate economic linkages and opportunities for all in the region," said Geoffrey Pyatt, Principal Deputy Assistant Secretary of State for South and Central Asian Affairs, in his remarks on "Emerging India Summit" at the Emory University yesterday.<br /><br />"Reinvigorating trade and commerce between India and Pakistan, for instance, can provide extensive benefits to both countries and their millions of farmers, business people and entrepreneurs," he said.<br /><br />Freer movement of people and goods across South Asia, including between India and Pakistan, will generate new economic opportunities for one of the world's youngest and most vibrant populations, Pyatt said.<br /><br />While accounting for nearly 23 per cent of the world's total population, the region's share of global GDP is less than 3 per cent.<br /><br />In terms of trade linkages, SAARC stands in sharp contrast to regional forums in East Asia.<br /><br />"The pace of economic integration in the Asia Pacific region over the last two decades was unprecedented and serves as an example for other regions.It should, and I believe it can, be replicated in South Asia," he said.<br /><br />Just as the private sector did in ASEAN, trade associations such as the Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (Ficci can play a significant role in improving trade relations between India and Pakistan, Pyatt said.<br /><br />Recently, Ficci set up two well-received "Made in Pakistan" business and product exhibits in India.Ficci now plans to organise similar "Made in India" exhibitions in Pakistan for which it is closely working with the Federation of Pakistan Chambers of Commerce and Industry, said the US official.<br /><br />"Clearly, there is pent up demand for trade between India and Pakistan, as demonstrated by the volume of trade that transits third world countries to avoid restrictions or endures the cumbersome offloading and reloading that occurs at the land border," he said.<br /><br />"Some analysts estimate trade between India and Pakistan could be more than 10 times what it is currently if both nations work together to relax economic restrictions on cross-border trade," he said.<br /><br />Official bilateral trade between India and Pakistan reached USD 2.75 billion in 2009 from USD 215 million in 2001, and those numbers will only grow as India's consumer class expands, he added</p>
<p>"In the United States' engagement with the countries of South Asia, one of our overarching objectives is to facilitate economic linkages and opportunities for all in the region," said Geoffrey Pyatt, Principal Deputy Assistant Secretary of State for South and Central Asian Affairs, in his remarks on "Emerging India Summit" at the Emory University yesterday.<br /><br />"Reinvigorating trade and commerce between India and Pakistan, for instance, can provide extensive benefits to both countries and their millions of farmers, business people and entrepreneurs," he said.<br /><br />Freer movement of people and goods across South Asia, including between India and Pakistan, will generate new economic opportunities for one of the world's youngest and most vibrant populations, Pyatt said.<br /><br />While accounting for nearly 23 per cent of the world's total population, the region's share of global GDP is less than 3 per cent.<br /><br />In terms of trade linkages, SAARC stands in sharp contrast to regional forums in East Asia.<br /><br />"The pace of economic integration in the Asia Pacific region over the last two decades was unprecedented and serves as an example for other regions.It should, and I believe it can, be replicated in South Asia," he said.<br /><br />Just as the private sector did in ASEAN, trade associations such as the Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (Ficci can play a significant role in improving trade relations between India and Pakistan, Pyatt said.<br /><br />Recently, Ficci set up two well-received "Made in Pakistan" business and product exhibits in India.Ficci now plans to organise similar "Made in India" exhibitions in Pakistan for which it is closely working with the Federation of Pakistan Chambers of Commerce and Industry, said the US official.<br /><br />"Clearly, there is pent up demand for trade between India and Pakistan, as demonstrated by the volume of trade that transits third world countries to avoid restrictions or endures the cumbersome offloading and reloading that occurs at the land border," he said.<br /><br />"Some analysts estimate trade between India and Pakistan could be more than 10 times what it is currently if both nations work together to relax economic restrictions on cross-border trade," he said.<br /><br />Official bilateral trade between India and Pakistan reached USD 2.75 billion in 2009 from USD 215 million in 2001, and those numbers will only grow as India's consumer class expands, he added</p>