News
Thursday, April 28, 2011
Pakistan, India hope trade talks will take dialogue forward* Both sides may agree on opening of branches of two private sector banks, eliminate non-tariff barriers, increase business visas, open more trade routes
* Progress achieved on a number of issues during first four round of talks to be given priority
By Sajid Chaudhry
ISLAMABAD: Pakistan and India hoped on Wednesday that their ongoing secretary-level trade talks will take the dialogue process forward and help address all issues relating to facilitation and promotion of bilateral economic cooperation with consensus.
Sources privy to the first day’s meeting of the two-day session between Pakistan Commerce and Trade Secretary Zafar Mahmood and his Indian counterpart Rahul Khullar in Islamabad told Daily Times, “The two teams have completed the review of the trade cooperation from the point where it was derailed after 2007. The decision on all issues relating to facilitation and promotion of bilateral trade would be made with consensus at the conclusion of the talks on Thursday (today) while the progress achieved on a number of issues during the first four round of talks would be the priority areas.”
According to the sources, both the countries are expected to agree to open bank branches of at least two private banks to facilitate the bilateral trade, eliminate non-tariff barriers to make the mutual trade beneficial, revise the goods train agreement for facilitating quick and economical trade transactions, increase business visas, open more trade routes and to promote intra-Kashmir trade through the Line of Control (LoC) as per the desire of Kashmiris.
Talking to media after the meeting, the Pakistan’s commerce secretary said that private sectors of the two countries would be facilitated for the benefit of the people and their economic prosperity. He said the talks had an “open agenda”. Mehmood further said that priority would be given to those issues on which work had been nearing completion and talks on new areas would be held in the next round of talks. He also said Pakistan had not given Most-Favoured Nation (MFN) status to India, adding that this was also a king of non-tariff barrier from Pakistan side.
In his opening remarks at the meeting, Indian Commerce Secretary Khullar said that the process of talks should not be stopped on the basis of disagreement on various issues between the two countries. He said India would be giving priority to the issues where visible progress had already been achieved.
Pakistan’s High Commissioner to India Shahid Malik, Indian High Commissioner to Pakistan Sharat Sabarwal, officials of the State Bank of Pakistan, Trade Development Authority of Pakistan, ministries of foreign affairs, water and power and railways attended the meeting.
Courtesy www.dailytimes.com.pk