Decision on MFN to help India-Pak ties: Sharma

Last Updated: Wednesday, November 2, 2011 - 22:11

New Delhi: India on Wednesday "deeply appreciated"
Pakistan`s decision to grant New Delhi the Most Favoured Nation (MFN) status, stating the move will also help improve
political ties between the two neighbours.

"We deeply appreciate this positive gesture that Pakistan
has taken," Commerce and Industry Minister Anand Sharma said
here.

Sharma spoke to his Pakistani counterpart Makhdoom Amin
Fahim immediately after the decision taken by the Pakistani
Cabinet.

When asked whether the move would help improve political
relationship between the countries, he said: "...It will be
influencing definitely in positive manner. We need to sustain
this in the coming months."

He said that when bilateral economic engagement improves,
it brings prosperity and growth to both the partners.
Sharma said the Makhdoom`s September visit here was a
major step forward in this direction.

Under the MFN status, Pakistan will treat India at par
with its other favoured trading partners. India has already
granted this status to the neighbouring country way back in
1996.

"It will be beneficial for both the countries. It opens
up new pathways of alleviating our economic engagement to a
much higher level," the minister said.

In 2010-11, the bilateral trade stood at USD 2.6
billion.

The India-Pakistan commercial negotiations were revived
after almost four years in April. The bilateral economic ties
were badly hit after November 2008 terror attack in Mumbai.

In April, the engagements were revived with Commerce
Secretary level talks in Islamabad. These were followed by
Fahim`s visit to New Delhi in September.

Pakistan Commerce Secretary Zafar Mahmood would be visit
India in mid-November for further review of economic ties.

PTI



First Published: Wednesday, November 2, 2011 - 22:11

More from zeenews

 
comments powered by Disqus