ISLAMABAD: The Trade Development Authority of Pakistan (TDAP) will sign a Memorandum of Understanding (MoU) with India Trade Promotion Organisation (ITPO) to promote bilateral trade, official sources told Business Recorder. Pakistan and India held 5th round of talks on economic and commercial co-operation at the level of Commerce Secretaries on April 27-28, 2011 in Islamabad.
The previous four rounds, under the Composite Dialogue, were held alternately in Islamabad and New Delhi on August 11-12, 2004, August 9-10, 2005, March 28-29, 2006 and July 31-August 1, 2007. Sources said that during the 5th round, besides reviewing progress on the decisions taken in the previous rounds, new avenues of bilateral co-operation were also explored and it was agreed to leverage the roles of TDAP and its Indian counterpart ITPO. In order to institutionalise bilateral trade promotion efforts of TDAP and ITPO, Commerce Ministry has proposed that MoU for collaboration in trade promotion activities should be signed between the two organisations.
After signing, the implementation of the MoU would rest with the private sector (chambers of commerce) and TDAP, sources added. The scope of the MoU will be to accelerate the efforts for promotion and development of trade links between Pakistan and India, through: (a) exchange of information; (b) conducting marketing research activities; (c) implementation of bilateral trade promotion activities; and (d) organising training programs and exchange of experts. As per rule 16(1) (h) of the Rules of Business 1973 of Cabinet Division, Commerce Ministry has sought approval of the Cabinet to initiate talks for finalisation of the text of the draft MoU to be signed between TDAP and ITOP.