India likely to drop opposition against Pakistan

OUR STAFF REPORTER ISLAMABAD - Pakistan is expecting that India is likely to drop its strong opposition on Eurperon Unions trade concessions granted for Islamabad during the upcoming trade talks between two countries to be held in last week of ongoing month (September), it has been learnt on Friday. Pakistani business delegation head by Commerce Minister Makhdoom Amin Fahim would visit India from September 26 to 30 on the invitation of Indian Commerce Minister. Officials of Commerce Ministry are optimistic that both sides would make progress in trade related issues. We are hoping that India is most likely to drop its opposition on the Eurperon Unions trade concessions for Islamabad given after the unprecedented floods in July-August 2010 said an official of Commerce Ministry while taking to The Nation on Friday. The EU granted trade concession on 75 textile and other items to Pakistan after the floods in July-August 2010, however later due to strong resistance from India the matter was deferred. Official sources went on saying that Pakistan has decided to enhance trade with India and in this regard a step has been taken to increase the tradable items with New Delhi. He informed that Commerce Ministry has approved a list of some 18 items to be added in the list of tradable items with India. The list has already been sent to the Economic Coordination Committee (ECC) of the Cabinet for final approval. The government had already included added eight items in February 2008. On the other hand, sources said that Islamabad and New Delhi would also move ahead on the issue of giving New Delhi the Most Favoured Nation (MFN) status, which is longstanding demand of India. It might be mention here that in Secretaries level talks; Pakistan had indicated granting MFN status to India provided it removed the non-tariff barriers for Pakistani goods. Pakistan and India are likely to make progress in opening of bank branches in both countries in order to promote bilateral trade in the upcoming trade talks. The current level of trade between India and Pakistan is around some $2 billion. The officials of both countries believed that this level of trade is much low and should be further enhance in next few years.

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