Indo-Pak trade relation improvement is slow and gradual: Noorani

Mumbai, Feb 5 (UNI) Former Pakistan Commerce Secretary Tasneem Noorani has said improvement in the Indo-Pak bilateral trade relationship has been a slow and gradual process.

Interacting with Indian businessmen at the Indian Merchants Chamber(IMC) here today, Mr Noorani said since the mid-90s, there has been a substanial increase in trade between the two countries, worth 600 to 800 million USD.

Replying to a query on tough visa regulations and other bureacratic hurdles, Mr Noorani said, ''This is a problem faced by the business community in both the countries.'' We will definitely look into the matter and debate the issue at the highest levels, he assured.

To another question, he said Pakistan's refusal to reciprocate the Most Favoured Nation (MFN) status to India, has to do with a lot of other issues that are political and cultural.

Although India has reduced the Customs Duty on several commodities, yet textiles and agricultural commodities that are mostly imported by Pakistan, are subject to higher duties, he rued.

Mr Noorani stressed that many obstacles, that are hampering trade between the two countries, could be ironed out through bilateral confidence building measures at higher political levels.

UNI