Pakistan and India Trade News Update

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PakistanandIndiahave reaffirmed to make all out efforts to boost bilateral trade relations.Pakistan-India-talks

Prime Minister Syed Yousuf Raza Gilani has said that normalization of relations between Pakistan and India would be mutually beneficial for the people of both the countries. Talking to Indian Commerce Minister An and Sharma in Islamabad‚ he said the Federal cabinet has mandated the Commerce Ministry to normalize trade relations with India. The Indian Commerce Minister said there is a lot of scope in bilateral trade. Earlier‚ addressing a joint news conference‚ Commerce Minister Makhdoom Amin Fahim and his Indian counterpart An and Sharma reaffirmed their pledge to make all out efforts to boost bilateral trade relations. The two sides agreed that the first meeting of Expert Group on Trade in Petroleum products will be held early next month in New Delhi. Amin Fahim said Pakistan will move from a positive list to a small negative list during this month. An and Sharma said India wants to build bridges and enhance regional trade with Pakistan even to the Central Asian Republics. He said officials of Reserve Bank of India and State Bank of Pakistan will hold a meeting early next month to discuss matters relating to opening of Bank branches on mutual basis. The two Ministers said that opening of Munabao-Khokharpar route for trade will be taken up in consultation with the stakeholders.

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