New Delhi: Pakistan has recognized that grant of most-favoured-nation (MFN) status to India would help in expanding bilateral trade relations, said Minister of State for Commerce and Industry Jyotiraditya M. Scindia.
Bi-lateral trade and commerce talks were held between Commerce Secretaries of India and Pakistan on 27-28 April in Islamabad.
The two sides, inter-alia, agreed to improve trade infrastructure and expand trade through Attari-Wagha land route.
It was agreed to set up a Working Group to address and resolve clearly identified sector-specific barriers to trade. Both sides agreed to undertake new initiatives to enable trade in electricity and Bt. Cotton seeds as also expand trade in petroleum products, said Scindia in Rajya Sabha.
It was agreed that cooperation in Information Technology sector would be encouraged through the private sector.
Both sides agreed to facilitate grant of Business Visas to encourage expansion of trade.
Pakistan recognized that grant of most-favoured-nation (MFN) status to India would help in expanding bilateral trade relations. It agreed to replace its present ‘Positive List’ with ‘Negative List’, by October, said Scindia.
Joint Working Groups have been set up for Customs cooperation, trade in electricity and trade in all types of Petroleum Products.
A Joint Working Group on ‘Economic and Commercial Cooperation & Trade Promotion’ to be co-chaired by the Joint Secretaries of the respective Departments of Commerce has been set up for reviewing the implementation of the decisions taken during the meeting of the two Commerce Secretaries and also other trade promotion issues.