New Delhi, Feb 09: A16-member delegation of Pakistani businessmen is expected to arrive here today to promote trade ties between the two neighbours. It will be in India for two weeks to look into ways of increasing bilateral trade, according to a Pakistani newspaper report.
The delegation is scheduled to stop over in New Delhi and Mumbai.
Pakistan has not given the MFN (most favoured nation) status to India fearing tough competition. Due to trade barriers, Pakistan -- one of the largest consumers of tea -- imports tea from Kenya despite being neighbour of the world's largest tea producer -- India.
Several such barriers to trade are likely to come down after finalisation of the South Asian Free Trade Agreement, which was proposed during the January Saarc summit in Islamabad.
Countries of BIMST-EC (Bangladesh, India, Myanmar, Sri Lanka, Thailand-Economic Co-operation) grouping are meeting today in Bangkok's resort city of Phuket to discuss the proposed Safta.
Beginning January 1, 2006, Safta will ensure that over the next 10 years Pakistan, India and Sri Lanka reduce their maximum import duties to 20 per cent while least developed countries Bangladesh, Nepal, Bhutan and the Maldives will reduce their maximum duties to 30 per cent. Bureau Report