By IANS,
New Delhi : Top officials of India and Pakistan Monday emphasised on the need for complete normalisation of trade ties through dismantling of non-tariff barriers and full implementation of the South Asia Free Trade Agreement (SAFTA) obligations.
“Our agenda has been clearly laid out for us in terms of preparing specific timelines for the complete normalisation of our trade relationship and implementation of committed SAFTA obligations,” Commerce Secretary Rahul Khullar said at the 6th round of talks on commercial and economic cooperation between India and Pakistan.
In his opening remarks at the secretary-level talks, Khullar said trade ministers of the two countries have mandated the officials to lay down “specific timelines for normalisation of all trade relationships, dismantling of all non-tariff barriers and full implementation of SAFTA obligations.”
Commerce ministers of India and Pakistan recently set a target to increase bilateral trade to $6 billion in three years from the current $2.7 billion.
Addressing the meeting, Pakistan’s Commerce Secretary Zafar Mahmood said Pakistan government was committed to complete normalisation of trade relations with India.
The meetings of the commerce secretaries follows the Pakistani cabinet’s decision Nov 2 to grant India most favoured nation (MFN) status, seen as an important step to normalise trade ties.
With granting the MFN status, Pakistan will now treat India on par with its other favoured trading partners. India had granted Pakistan the MFN status in 1996.
“The cabinet not only gave its full approval but also mandated the commerce ministry to achieve complete normalisation of trade with India,” Pakistan’s commerce secretary said at the meeting.