Islamabad, Sep 30 (IANS) The progress in ongoing India-Pakistan trade talks is heartening, a leading Pakistani daily has said adding that this could be ‘the beginning of a complicated but exciting new chapter in regional trade’.
A business delegation led by Pakistan Commerce Minister Makhdoom Mohammad Amin Fahim is on a five-day visit to India.
An editorial in the Dawn Friday said the Pakistani commerce minister was visiting India after more than three decades and ‘reports from his trip point to heartening progress in bilateral trade talks that began in April this year’.
It said: ‘As one piece of the broader peace process launched after three years, these steps demonstrate how much there is to be gained from talking again, and talking seriously’.
‘They also indicate a recognition on both sides of the obvious benefits to be gained from opening up trade, including new markets, reduced import costs and regional stability as increased business creates incentives to maintain close ties on the political front,’ the editorial added.
It went on to say that there is still work to be done.
‘Pakistan has yet to grant Most Favoured Nation status to India to bring it on par with other trading partners, as encouraged by the World Trade Organisation. India, on the other hand, has yet to reduce non-trade barriers such as visa restrictions, security clearances and stringent certification rules.’
The editorial observed that for both the governments and the private sectors in the two countries, ‘this could be the beginning of a complicated but exciting new chapter in regional trade’.
