India may unveto EU’s dutyfree exports from Pak

ISLAMABAD: India is likely to announce drop of its veto on a European Union Duty free programme for Pakistani products during the upcoming meeting of commerce ministers of the two countries, official sources in the Ministry of Commerce said.

“We are positive and expect a major break through by India during the upcoming visit of the Commerce Minister to India regarding duty free exports of Pakistan to European Union,” an official told APP.

He said that the measure would be a very positive message from India to Pakistan that would result in boosting textile exports to the European market under a post-floods trade assistance scheme.

He said the announcement would be made at a time when Pakistan is again hit by worst floods that have devastated infrastructure and vast swathe of agriculture land, causing damages of billion of rupees to the country.

Pakistani and Indian commerce ministers are due to meet during the last week of this month to carry forward talks for boosting trade between the two neghbouring countries.

He was of the view that announcement would go a long way towards moving along the peace process and bring the two countries close to each other.

The official said that Commerce Minister, Makhdoom M. Amin Fahim is scheduled to visit Indian from September 26-30, 2011 in pursuance of the 5th round of talks on commercial and economic cooperation between the Commerce Secretaries of both the countries and on invitation of Indian Minister for Commerce, Industry and Textile, Anand Sharma.Several issues related to development of trade would come up to the discussion between the two ministers during the meeting that include easing the procedure for issuing business visas, address issues related to custom duties and inclusion of new products in the trade list.

The Commerce Minister would be leading a high level delegation of businessmen from various chambers of commerce to explore business and trade opportunities between the two countries.The visit has been arranged by the Trade Development Authority of Pakistan (TDAP) with an aim to boost trade between the two counties that would also help confidence building among the two nations.

He said that the main focus would be on business development and that is why the TDAP has arranged the visit adding that if it had been focused on policy, then ministry of commerce would have arranged this.The official in the ministry of commerce was of the view that secretary level meeting is expected in November this year to discuss policy issue related to trade. (APP)