Pakistan on Monday said the process for giving India the Most Favoured Nation (MFN) status is expected to be finalised "very soon".

"The cabinet has approved in-principle approval to giving MNF status to India and the government will grant it very soon," Amin Fahim said while talking to reporters after he received India's Commerce Minister Anand Sharma.

Amin Fahim said the issue of multiple entry visas valid for a year for businessmen of both countries had been sorted out and the two sides will soon sign a formal agreement.

Responding to a question, Fahim said the process of identifying items to be included in a negative list for trade with India is underway and the list will be finalised shortly.

Later, Sharma, who is visiting Pakistan with a 120-strong business delegation, visited The India Show, the largest India-specific exhibition to be held in the country.