The Commerce Ministry has started in-house consultation to finalise the names for a delegation for India, to be led by Commerce Minister Amin Fahim, official sources told Business Recorder. "Both Commerce Ministers will meet probably on September 26, 2011 in New Delhi, for which we have started consultative process to finalise the names of proposed team and agenda for talks," sources said.
Indian Commerce and Industry Minister Anand Sharma recently sent a formal invitation to Pakistani counterpart to discuss ways and means to further strengthen trade ties with the objective of achieving full trade potential between the two countries. The invitation was delivered by the Indian High Commissioner.
"We are considering taking a business delegation to three places--New Delhi, Bombay and Bangalore. The delegation may have 40-80 people comprising top businessmen and officials," sources added. Prime Minister Yousaf Raza Gilani has cleared the summary of the visit.
Gilani, in a recent meeting of federal cabinet, apprised his colleagues that Pakistan has been pursuing a policy of reconciliation at home and abroad and "relations with India are moving in the right direction". Sources said issues like 'Most Favoured Nation' (MFN) status to India, issues affecting transit trade agreement between Afghanistan and India and non-tariff barriers (NTBs) will be top of the agenda, in addition to opening of banks branches.
In April 2011, in Commerce Secretary level talks both countries had agreed to expand trade through Wagah-Attari by increasing trading hours taking advantage of the new infrastructure, expeditious clearance of cargo and facilitating movement of large vehicles and containerised traffic.
Pakistan has recognised that grant of MFN status to India would help in improving bilateral trade relations. Analysts believe that bilateral trade between Pakistan and India can jump to $6 billion from less than $2 billion, if NTBs are removed by the two sides.
Both countries had also agreed that Pakistan would remove its present restrictions on trade by land route as soon as the infrastructure to facilitate mutual trade is completed. The timeframe for this purpose had been fixed before October 2011. This implies Pakistan has to take measures prior to Commerce Minister level talks.
Amin Fahim, sources said, will request his Indian counterpart not to oppose European Union (EU) trade package at the WTO, meant for flood affectees. The issues related to Safta will also come under discussion, as Pakistan believes that New Delhi is a major obstacle to the smooth expansion of trade within the Saarc countries. "We are hopeful that issues will be resolved at Commerce Ministers level as invitation from Indian Commerce Minister is most significant," the official said.
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