Pakistan once again has made it clear to India that bilateral trade between the two countries cannot be enhanced till the resolution of outstanding issues including political issues like Kashmir. "President Pervez Musharraf is keen to enhance trade with India, but in the light of ongoing composite dialogue," confirmed Indian Commerce and Industries Minister Kamal Nath who met the President with his Pakistani counterpart Humayun Akhtar here on Tuesday.
The Commerce Ministers of Saarc held a meeting with President Pervez Musharraf, but the Indian Commerce Minister met him separately for half an hour to discuss bilateral issues, including trade.
Addressing a press conference, Commerce Minister Humayun Akhtar said that Pakistan and India have agreed to constitute a Joint Study Group (JSG) of experts to explore new avenues for enhancing economic co-operation. "We have agreed to form Joint Study Group of experts which will explore ways and means for enhancing economic co-operation between both the countries," he added Indian Commerce Minister said that his meeting with President Pervez Musharraf was very fruitful, and added that both countries feel that there should be strong trade relations between them.
Nath said that he informed President Pervez Musharraf about the sentiments of business community of both sides regarding promotion of trade.
He further said that trade of India and Pakistan with other countries was nearly $200 billion annually. However, trade volume between India and Pakistan was $300 million, which, according to him, was disappointing.
About South Asia Free Trade Agreement (Safta), Nath said that Saarc has become an important regional trading bloc, which would be stronger when it would enter into trade with other regional trading blocs in the world. He said with the trade under Safta, the most pressing challenges for Saarc countries were unemployment and poverty.
Humayun, while clarifying the position, said that President Musharraf and Indian Prime Minister Manmohan Singh met in New York in September and in the light of that meeting both countries have decided to enhance trade ties, but the sustainable political dialogue is must for it. He further said that Prime Minister Shaukat Aziz was also in India to discuss issues confronting both countries.
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