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India minister Anand Sharma in key Pakistan trade trip | India minister Anand Sharma in key Pakistan trade trip |
(about 3 hours later) | |
India's Commerce and Industry Minister Anand Sharma is due to begin a three day visit to Pakistan to boost trade between the two rival neighbours. | India's Commerce and Industry Minister Anand Sharma is due to begin a three day visit to Pakistan to boost trade between the two rival neighbours. |
Last year Pakistan and India agreed to boost trade. Islamabad had previously linked improvements to resolving the dispute over Kashmir. | |
Mr Sharma's talks in Pakistan will focus on doubling annual trade to $6bn (£3.7bn) in three years. | Mr Sharma's talks in Pakistan will focus on doubling annual trade to $6bn (£3.7bn) in three years. |
Correspondents say it is a significant step towards boosting peace. | Correspondents say it is a significant step towards boosting peace. |
India granted most-favoured-nation trading status to Pakistan in 1996 - a move designed to lower tariffs - and last year Islamabad reciprocated. | |
'Build bridges' | 'Build bridges' |
Last year, for the first time in 35 years, a Pakistani commerce minister led a business delegation to India. | Last year, for the first time in 35 years, a Pakistani commerce minister led a business delegation to India. |
Now Mr Sharma will head a 80-member-strong delegation of business leaders and officials during his talks in Pakistan, according to the state-run Doordarshan News. | Now Mr Sharma will head a 80-member-strong delegation of business leaders and officials during his talks in Pakistan, according to the state-run Doordarshan News. |
He is expected to meet his Pakistani counterpart and other leaders and hold meetings with Pakistani business leaders in Lahore, Karachi and Islamabad. | He is expected to meet his Pakistani counterpart and other leaders and hold meetings with Pakistani business leaders in Lahore, Karachi and Islamabad. |
"We want to build bridges of confidence and trust which is imperative to promote two-way trade between the two countries," Mr Sharma told reporters ahead of his visit. | "We want to build bridges of confidence and trust which is imperative to promote two-way trade between the two countries," Mr Sharma told reporters ahead of his visit. |
"We hope to double this [trade] figure in a three-year period. Once direct trade through [the] land route is facilitated, there will be a manifold increase," he added. | "We hope to double this [trade] figure in a three-year period. Once direct trade through [the] land route is facilitated, there will be a manifold increase," he added. |
Pakistan maintains a list of 1,945 items allowed to be imported from India. But only 108 can be moved directly by road through the overland border post at Wagah, reports say. | |
Major exports from India to Pakistan include sugar, cotton, man-made filaments and chemicals, while its top imports from Pakistan include fruit, mineral fuels and organic chemicals. | Major exports from India to Pakistan include sugar, cotton, man-made filaments and chemicals, while its top imports from Pakistan include fruit, mineral fuels and organic chemicals. |
India and Pakistan resumed formal peace talks last year after they were broken off in the wake of the militant attacks in Mumbai in 2008. | India and Pakistan resumed formal peace talks last year after they were broken off in the wake of the militant attacks in Mumbai in 2008. |