He also spoke with media and responded to questions on delay in a meeting of Foreign Secretaries of the two countries. He said that Foreign Secretaries of both countries are in contact with each other and will meet very soon. Answering another question, he said that holding of a composite dialogue between the two countries is not linked to progress in the Pathankot incident.
Earlier, addressing the seminar on 'Business Opportunities in India', which was attended by a large number of businessmen from different parts of the country, the Indian High Commissioner urged Pakistani businesses to capitalise on India's growing market to sell more of their goods and products in India and through such trade contribute to the prosperity of Pakistan.
He argued that an increase in bilateral trade between the two countries will be a win-win situation for both the neighbours. "I know some of you may ask the very pertinent question- Why is the Indian High Commissioner being so generous? Why is he being so kind? This is a very good and important question to ask. The answer is very simple and rational. Economic theory tells us that trade is good for partners; that trade is good for both trading nations. Therefore, greater trade flows between India and Pakistan will not merely be good for Pakistan; it will also be good for India. It will be a win-win situation for both of us," he added. As per the current statistics, bilateral trade between India and Pakistan was a mere $2.35 billion in 2014-15 which is an abysmally low figure for two large expanding economies such as ours, he said.
Bambawale further stated that both countries know and acknowledge that some bilateral trade between Pakistan and India takes place through third countries, mainly the UAE. "Even if one were to add such trade, the volume of exports and imports between us is still very low. Surely, we can do better than this! We also owe it to our people. Through such enhanced trade and investment we can provide greater prosperity and better living standard to people in our countries. These are very important objectives for both India and Pakistan," Bambawale maintained.
Indian High Commissioner suggested that when the India-Pakistan dialogue commences, perhaps both countries should focus on enhancing trade and economic relations. This will be one of the many issues the two countries need to discuss at the time of bilateral consultations.
"We must factor into our thinking that a great deal of spadework has already been done on the business side of our relationship particularly between 2012-2014, an entire road map had been drawn up by the two countries on how we could proceed in commercial ties. Even now we could work according to that outline. If that is not convenient, we could work out a new way forward on business contacts. In this matter, India is willing to move ahead in close consultation with Pakistan's authorities. We are willing to work step by step with you. We will not be found wanting," he further added.
The High Commissioner stated that he has held many interesting conversations with Pakistani businessmen and businesswomen and is very happy and delighted to see the confidence of Pakistani entrepreneurs who are selling Pakistani goods and products in Indian markets. Pakistani entrepreneurs are not afraid of any kind of floods of Indian goods into Pakistan. Indian business people also look forward to enhancing trade and expanding economic ties with Pakistan.
He suggested that both governments will need to keep up with the times and facilitate greater business, adding that a greater economic interaction is itself an enormous Confidence Building Measure or CBM. It has been utilised very effectively in other parts of the globe for building greater trust and confidence between neighbouring countries.
Commenting on visa issues, India High Commissioner said that the two governments will have to sit together and work out a more liberal visa regime which he argued is possible, probable and doable.
He said he would try to further reduce visa processing time, adding that visa regime can be further liberalised if governments of the two countries agree. Key concern of Pakistani business community was about Indian visa and related issues. The queries of all the businessmen and women were properly responded to by officials of the embassy. However, one businessman stated that both countries should behave and not link business to political issues.
In reply to a question, an official of Indian High Commission stated that since there was no understanding between the two countries on banking services, courier services and mobile phone services, India cannot give a surety of investment in such sectors. He informed the participants that Indian government will now issue a three-year multiple visa to businessmen who file their visa applications properly.