“Yes, we have received a formal invitation from the Indian commerce minister. He has invited Pakistani commerce minister to visit India to discuss several trade-related issues,” a source in the commerce ministry told Dawn on Friday.
At a meeting in April this year commerce secretaries of the two countries expressed willingness to proceed further on issues like removing non-tariff barriers (NTBs) and Pakistan extending Most Favoured Nation (MFN) status to India.
The source said it would be an important meeting and Pakistan would urge India to end its opposition to the European Union preferential trade package offered to Pakistan in the wake of last year’s devastating floods.
In the April meeting, India agreed to remove Pakistan-specific non-tariff barriers (NTBs), and if it materialises it will be widely
hailed by Pakistani businessmen who want access to Indian markets.
The issue regarding improving trade facilitation measures at the Wagha border would also be discussed during the meeting, the source said.
To reciprocate the offer, Pakistan has offered to grant the MFN status to India, but it was conditional to removal of NTBs by India. It is expected that the MFN status to India may be considered in October, 2011.
The source said Pakistan was optimistic of getting a positive response from India on the issue of EU trade package and the removal of NTBs. In case of a positive move, the source said, the case of granting India the MFN status would become easier.
There is also an understanding to start a bilateral preferential trade agreement with India. There have been reports that the bilateral trade could increase to $6.5 billion from less than $2 billion.
Pakistan wanted India to remove NTBs such as insisting on lab tests for textiles and directing imports of specific goods through designated terminals.
Indian officials deny any Pakistan-specific NTBs, claiming they were meant for all imported goods.
No comments:
Post a Comment