04-11-2012, 12:28 PM
Indo-Pak ministerial talks to focus on removal of non-tariff walls
New Delhi: Trade and Commerce Ministers of Pakistan and India are likely to hold parleys on enhancing economic engagement and removal of non-tariff barriers (NTB), including a liberal visa regime to give a fillip to trade relations between the two countries.
Although no official business has been notified, Commerce Ministry officials said Pakistan’s Commerce Minister Makhdoom Amin Fahim and his Indian counterpart Anand Sharma would hold talks on April 12 on various aspects of trade-related issues, following the notification of negative list by Pakistan last month.
“Trade is set to take from the sea and railway route but it will take time for things to move along the surface transport front. Discussions are on to open up more trade through the land route, including a new one in Rajasthan,’’ a senior official said.
Out of 8,000-odd items notified under newly released negative list, only 150-odd items could be traded through trucks across the border, something that needed to be urgently expanded.
Bilateral trade stood at $2.75 billion last year and has potential to touch $10 billion mark in next four years, according to Federation of Indian Chambers of Commerce and Industry (FICCI).
Both countries have discussed recently trade in electricity and petroleum products. India has offered Pakistan 5,000 MW of electricity and an expert group had met last month in Lahore to work out the modalities for such an exchange in the future, The Hindu reported.
Similarly, expert group on petroleum had met last month in India. Pakistan had sought from India supply of petrol. India reciprocated instantly to Pakistan request and left it to officials to work out modalities.
Pakistan indicated transportation of petrochemical products through land route on trucks some months ago. However, Indian oil marketing companies have been guarded in their approach to supply much-needed raw material to its neighbour.
Sharma will host dinner in honour of Fahim and the visiting Pakistan business delegation on April 12. Similarly, Fahim is expected to host a dinner on April 13 for his Indian counterpart.
New Delhi: Trade and Commerce Ministers of Pakistan and India are likely to hold parleys on enhancing economic engagement and removal of non-tariff barriers (NTB), including a liberal visa regime to give a fillip to trade relations between the two countries.
Although no official business has been notified, Commerce Ministry officials said Pakistan’s Commerce Minister Makhdoom Amin Fahim and his Indian counterpart Anand Sharma would hold talks on April 12 on various aspects of trade-related issues, following the notification of negative list by Pakistan last month.
“Trade is set to take from the sea and railway route but it will take time for things to move along the surface transport front. Discussions are on to open up more trade through the land route, including a new one in Rajasthan,’’ a senior official said.
Out of 8,000-odd items notified under newly released negative list, only 150-odd items could be traded through trucks across the border, something that needed to be urgently expanded.
Bilateral trade stood at $2.75 billion last year and has potential to touch $10 billion mark in next four years, according to Federation of Indian Chambers of Commerce and Industry (FICCI).
Both countries have discussed recently trade in electricity and petroleum products. India has offered Pakistan 5,000 MW of electricity and an expert group had met last month in Lahore to work out the modalities for such an exchange in the future, The Hindu reported.
Similarly, expert group on petroleum had met last month in India. Pakistan had sought from India supply of petrol. India reciprocated instantly to Pakistan request and left it to officials to work out modalities.
Pakistan indicated transportation of petrochemical products through land route on trucks some months ago. However, Indian oil marketing companies have been guarded in their approach to supply much-needed raw material to its neighbour.
Sharma will host dinner in honour of Fahim and the visiting Pakistan business delegation on April 12. Similarly, Fahim is expected to host a dinner on April 13 for his Indian counterpart.