Now,Pakistan minister talks about trade ties at Taj

Addressing a business meeting organised by Ficci,Pakistan’s Commerce Minister — the first to visit India in 35 years — said,“normalisation of trade relations between India and Pakistan could thus be a vehicle to facilitate resolution of other political issues between the two countries. This would create more chances of the composite dialogue between India and Pakistan.”

Seeking India’s support for its WTO initiatives,Fahim said,“If India could support Pakistan’s case in the WTO,it would generate a lot of goodwill in the Pakistani business community,who would then encourage their government which would result in normalising trade relations with India. We’re sure that private sector in both countries would continue to play a positive and active role in shaping the government policy.” Trade talks between the two nations were broken off after the Mumbai attacks in 2008.

Both Fahim and S M Muneer,president,India-Pakistan Chamber of Commerce and Industry,said the potential for progress goes far greater than this,and that trade is imperative for economic development and an essential barrier to future hostility.

The talks were focused on reaching an agreement on most favoured nation (MFN) status for India,opening new branches of Indian banks in Pakistan to facilitate transactions and free trade between the nations,with the aim of publishing an official paper after approximately 1 to 2 months. Muneer called for opening more visa offices in major cities,implementing non-tariff barriers and removing ‘bottle-necks’ to trade.

Fahim will meet his counterpart Anand Sharma in New Delhi on Wednesday to discuss measures to overhaul commercial ties which should help bolster a fragile peace process between the nuclear armed neighbours.

Ficci president Harsh Mariwala,stressed the importance of awareness amongst the people that  cooperation is mutually beneficial. Leading CEOs from Indian and Pakistani industry,who were present at the conference,agreed with the need for improving trade ties,stressing the vast opportunities of trade and value chains between both nations.