AJK, IHK Traders Mull Joint Industrial Ventures

13 October 2008
The Post


Islamabad: The representatives of occupied Kashmir industry and the visiting delegation of AJK Chamber of Commerce and Industry have proposed setting up of joint industrial ventures. Addressing an interactive meeting in Srinagar, the leader of AJK delegation, Zulfiqar Abbasi, said that it would be the first step in a journey towards prosperity. He said that development of the industry across the Line of Control (LoC) would require serious efforts, KMS reported. 'Outside investors are reluctant to invest in industry and technology in Kashmir due to the disputed nature of the territory,' Abbasi said, adding that there was a need to exploit the huge potential in various sectors. He said that the traders would appeal to the governments on both sides of the LoC to develop infrastructure, including better roads, power supply and telecommunication services. Regarding the export of Kashmiri goods via AJK, Abbasi said that his side of Kashmir had a broad network of traders and businessmen settled in different European and foreign countries that could be instrumental in promoting the export of Kashmiri products. The representatives from various industrial sectors like floriculture, food processing industry, furniture and bat industries, marble and leather industry, electric goods manufacturing industry and pharmaceutical made presentations on production and demand of these products. The president, Federation Chamber of Industry Kashmir, Shakeel Qalandar, said the cross LoC trade would usher in a new era of development in the two parts of Jammu and Kashmir. Among those present on the occasions were senior members of the Kashmiri Chamber of Commerce and Industry, including its president, Dr Mubeen Shah.