Pakistan eyes breakthrough on Indian trade

Pakistan

Pakistan eyes breakthrough on Indian trade

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Pakistan is hoping for a boost in trade with India during talks in New Delhi later this month.

05 November,2011 07:55 am

Pakistan is hoping for a breakthrough at talks in New Delhi later this month in normalising trade relations with India, after signalling it will grant most-favoured nation status to its arch rival.We are extremely hopeful that there will be a major breakthrough in the next round of commerce secretaries meetings on November 14, 15 in Delhi, Zafar Mahmood, the top civil servant at the commerce ministry, told reporters.We will finalise all the details in that meeting, Mahmood added.On Wednesday, Pakistani Information Minister Firdous Ashiq Awan said the cabinet had unanimously approved India as a most-favoured nation, which would add it to a list of more than 100 other countries.The status will remove discriminatory higher pricing and duty tariffs that stand as barriers to export between the neighbours, but non-tariff barriers continue to stand in the way of increased trade, say analysts.