LAHORE - India and Pakistan should come up with a policy for opening the borders for trade and commerce, as there is huge trade potential between the two nations, LCCI President Irfan Qaiser Sheikh said. Irfan Qaiser Sheikh, who is leading the 100-member delegation of Lahore Chamber of Commerce and Industry (LCCI) to India, said there should be visa exemption for traders of both the countries. There should be no requirement of visa for Pak and Indian traders for more and more bilateral trade promotion, Irfan Qaiser Sheikh said. He was India to participate in the PHD-Punjab International Trade Expo 2011. Irfan Qaiser Sheikh also called for opening of multiple visas for the business community to start with. The frequent visits of businessmen of both sides will lead frequent meetings, he added. Calling for liberalising of visa regimes, Mr Qaiser said, the more the meetings, the better communication, and lesser misunderstandings would pave way for mutual co-operation and unprecedented growth in bilateral trade. Mr Qaiser said, if jointly endorsed by Indian and Pak Chambers, the businessmen and traders should be allowed to cross the border for at least 3-4 days. Speaking about the MFN status, he said, we should move ahead with the present list of items and once the confidence between both the countries grows, the negative list can be revised again. Interacting with the media persons in Chandigarh, the LCCI President said he was here to extend the message of peace and hoped for the dawn of a new era for both the countries. He invited Mr R S Sachdeva, Co-Chairman, Punjab Committee, PHD Chamber, to visit the newly set-up Lahore Expo Centre and establish Indian Pavilion there. Quipping in, Mr Sachdeva said opening up of more and trade corridors would definitely help growth in fathoming the profuse trade potential. Currently, trade volume between the two nations stood at 2.7 billion dollars, according to PHD Chamber. Ealier, to further improve the trade between the two countries especially through Punjab, the visiting delegation of LCCI headed by Irfan Qaiser Sheikh President, LCCI and PHD Chamber of Commerce and Industry lead by R S Sachdeva, Co-chairman Punjab Committee after due discussions, signed an Memorandum of Understanding (MoU) for mutual co-operation. Sharing the details of the MoU, Sachdeva said that both the Chambers shall facilitate the exchange of information about the products and manufactures of products; and respective buyers, sellers and service providers in both the countries. Sachdeva further informed that both the Chambers shall plan strategic trade delegations to either country. Further, as per the MoU, joint exhibitions for products and services in India and Pakistan shall be organized in both India and Pakistan. Both LCCI and PHD Chamber shall strive to expand and develop bilateral relations and cooperation in the fields of trade, industry, investment and other economic fields between the both countries.