India's trade with Pakistan tipped to touch 1.5 billion dollars

New Delhi, Apr 27 (UNI) Trade between India and Pakistan has shown enormous buoyancy and is expected to cross 1.5 billion dollars in 2006-07.

Exports to Pakistan in April-December (2006-07) stood at 980.33 million dollars while imports were US $ 247.48 million during the same period.

A business delegation led by Muhammad Nasir Khan, President of Islamabad Chamber of Commerce&Industry, called on Kamal Nath, Union Minister of Commerce&Industry, here this evening and expressed hope that the economic ties between the two countries would strengthen in the near future to benefit both countries, according to an official statement.

Kamal Nath highlighted the many benefits that could accrue to both India and Pakistan if trade relations improve, as it would make both countries more competitive in an increasingly globalised economy. He expressed hope that Pakistan would grant the much awaited most favoured nation status (MFN) to India and said that the segment of trade between two nations that currently took place through third countries would then be replaced by direct trade.

The Pakistan delegation requested the Minister to ensure easing of visa regime for Pakistani businessmen by the Indian government.

Kamal Nath assured that Government of India was committed to strengthening economic ties with its neighbour and this issue would also be taken care of in due course.

The main commodities of exports to Pakistan include sugar, dyes, plastic&petroleum products and cotton while main import items from Pakistan are petroleum&crude products, fruits&nuts (excluding cashew nuts), cotton yarn &fabrics and organic chemicals.

UNI