Pakistan extend it’s trade ties with India

Pakistan extend it’s trade ties with India

After Pakistan and India’s Prime Ministers decided to resume the dialogue at the SAARC summit, the two countries had started taking measures to normalise the situation. Pakistan in this regard had decided to extend it’s trade ties with India. As Pakistan
had taken steps on Tuesday to increase trade with it’s populated neighbour by February. In addition to that Pakistan will also ease the visa rules.

Addressing a joint press meeting with his Indian counterpart, Commerce Secretary Zafar Mehmood said, “We have turned the corner. We are talking of a complete normalisation roadmap.”

The trade secretaries of both countries agreed that Pakistan will soon put back the old limited list of trade items that India sell here, right after their meeting. India’s trade secretary Rahul Khullar said once Pakistan shidts from Positive List (PL) to
Negative List (NL) the two-sided trade would enhance significantly.

Up till now, Pkaistan allow only 1900 items that India can sell here. These items are listed in positive list (PL).  Indian trade secretary earlier told that Pakistan would inform India about the negative list (NL) by February next year. He also added that
both countries will then do away the list before the end of the 2012.

Pakistan’s trade secretary Mehmood said that the positive list would be decided in a couple of months time which is then slowly phased out. As far as the trade of the oil products are concerned a panel of experts would decide about it in January, as said
by Mehmood. The two countries would also look at the feasibility of trading electricity and open a second trading post by February next year.

As per current rule, the visas are issued for only on city and businessmen have to daily report to the nearest police station after their arrival. Both countries are looking to ease these visa rules as well in order to normalise the situation.

Amin Hashwani, president of the Pakistan-India CEOs’ Business Forum told that, “This time it is different. It’s not just politicians giving statements; there’s a whole roadmap chalked out with a time frame.”

Short URL: https://www.newspakistan.pk/?p=3780

Posted by Ali Raza on Nov 16 2011. Filed under Pakistan, Politics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry