Indo-Pak economic summit in Mumbai

South Asian Federation of Exchanges (SAFE) has been planning to organise an Indo-Pak finance and economic summit at Mumbai later this year, it was learnt on Tuesday. “Foreign Direct Investment (FDI) from Pakistan will open the way for increased trade, commerce and economic integration between Pakistan and India,” said managing director of the Lahore Stock Exchange (LSE) and secretary general of South Asian Federation of Exchanges (SAFE) Aftab Ahmad Chaudhry in a statement issued on Tuesday. “The economic liberalisation environment will be very conducive for holding the forthcoming summit where we plan to showcase a number of emerging companies and sectors for investment in Pakistan,” he said. Chaudhry further said that SAFE has long been calling for the removal of restrictions on bilateral investments between the two countries. He said that FDI and portfolio investments are the best ways to promote peace between the countries and it was high time that both countries moved toward an investment liberalisation environment. “Investment permission from Pakistan will be extremely beneficial for such trading and manufacturing companies which would like to have a marketing presence in India for their goods and services,” he said. From gulftoday