Pakistan, India agree to boost trade, travel ties Chalk out normalisation roadmap; Pakistan to notify
November 16, 2011
NEW DELHI: Pakistan and India Tuesday agreed to further enhance bilateral trade and travel ties and expressed satisfaction over progress being made to fully normalise the trade relationship.
A joint statement in this connection was issued at the end of the two-day 6th round of commerce secretary-level talks on commercial and economic cooperation under the dialogue process that started in 2004. The Pakistan delegation was led by Zafar Mahmood, Secretary Commerce, and the Indian delegation was led by Commerce Secretary, Rahul Khullar.
Both sides expressed satisfaction over progress being made to fully normalise the bilateral trading relationship while India welcomed the decision taken by Pakistan to accord Most Favoured Nation (MFN) status to India. To take forward decisions taken during the 5th round of talks in April 2011, many bilateral groups and sub-groups were set up.
For normalisation of trade, it was decided that in the first stage, Pakistan would transition from the current positive list approach to a negative list. A small negative list will be finalised and ratified by February, 2012. Thereafter, all items other than those on the negative list shall be freely exportable from India to Pakistan.
In the second stage, the negative list will be phased out and the timing for this will be announced in February 2012 at the time the list is notified. It is expected that the phasing out will be completed before the end of 2012. In terms of the clear mandate given by the political leadership, both sides agreed to move towards enhancing the preferential trading arrangements under the Safta process.
Reuters adds: The joint statement stated that Pakistan and India will push for easing of business visas to further improve bilateral trade. Under the existing practice, both countries require businessmen to register with police on their arrival and regularly report to them. Visas are issued only for one city.
The statement also said the two countries will examine feasibility for electricity trading. Earlier Trade Secretary, Zafar Mehmood said at a joint news conference with his Indian counterpart, Rahul Khullar, that Pakistan and India had turned the corner. “We are talking of a complete normalisation roadmap.”
“This time it is different. It’s not just politicians giving statements; there’s a whole roadmap chalked out with a time frame,” Amin Hashwani, president of the Pakistan-India CEOs’ Business Forum, told Reuters.
A joint statement in this connection was issued at the end of the two-day 6th round of commerce secretary-level talks on commercial and economic cooperation under the dialogue process that started in 2004. The Pakistan delegation was led by Zafar Mahmood, Secretary Commerce, and the Indian delegation was led by Commerce Secretary, Rahul Khullar.
Both sides expressed satisfaction over progress being made to fully normalise the bilateral trading relationship while India welcomed the decision taken by Pakistan to accord Most Favoured Nation (MFN) status to India. To take forward decisions taken during the 5th round of talks in April 2011, many bilateral groups and sub-groups were set up.
For normalisation of trade, it was decided that in the first stage, Pakistan would transition from the current positive list approach to a negative list. A small negative list will be finalised and ratified by February, 2012. Thereafter, all items other than those on the negative list shall be freely exportable from India to Pakistan.
In the second stage, the negative list will be phased out and the timing for this will be announced in February 2012 at the time the list is notified. It is expected that the phasing out will be completed before the end of 2012. In terms of the clear mandate given by the political leadership, both sides agreed to move towards enhancing the preferential trading arrangements under the Safta process.
Reuters adds: The joint statement stated that Pakistan and India will push for easing of business visas to further improve bilateral trade. Under the existing practice, both countries require businessmen to register with police on their arrival and regularly report to them. Visas are issued only for one city.
The statement also said the two countries will examine feasibility for electricity trading. Earlier Trade Secretary, Zafar Mehmood said at a joint news conference with his Indian counterpart, Rahul Khullar, that Pakistan and India had turned the corner. “We are talking of a complete normalisation roadmap.”
“This time it is different. It’s not just politicians giving statements; there’s a whole roadmap chalked out with a time frame,” Amin Hashwani, president of the Pakistan-India CEOs’ Business Forum, told Reuters.
