India, Pakistan sign agreements to boost trade

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SME Times News Bureau | 21 Sep, 2012
India and Pakistan on Friday signed three agreements to boost bilateral trade and both the countries emphasized the need for elimination of non-tariff barriers faced by exporters and importers of both the sides.

At the two-day 7th round of India-Pakistan talks on Commercial and Economic Co-operation that concluded today, three agreements for cooperation in customs matters, redressal of trade grievances and conforming to quality standards were signed.

"These agreements are expected to substantially facilitate bilateral trade mechanisms," a joint statement issued after the two-day commerce secretary level talks said.

The Indian delegation was led by Commerce Secretary S R Rao while the Pakistan side was led by Commerce Secretary Munir Qureshi.

Speaking at the event, Qureshi highlighted that certifications, licensing, and lab testing are not the only NTBs but issues like delays in customs clearance, non availability of railway wagons for cargo transport, absence of direct flights or any problem which delays the clearance of goods with no end results or change, faced by importer/exporter is an NTB.

He reiterated that concrete solutions of all such issues are crucial for ensuring market access in the Indian markets for Pakistani exporters.

Commerce Secretary India while noting the views expressed by Commerce Secretary Pakistan, emphasized the need for elimination of such NTBs on both sides.

The two sides noted with satisfaction the business-to-business contact which is steadily growing between both countries.

Chambers of Commerce on either side have been supporting business delegations and trade issues in each other’s countries. This process would be supported and facilitated by the Commerce Ministries of both the countries, with the active support of the TDAP and ITPO.

The Secretaries directed the two organizations to provide better guidance to chambers and business people on customs procedures, import regulations and how to organize exhibitions.

Both sides also appreciated the recent signing of the new liberalized bilateral visa regime. "This fulfils a long pending demand of the business communities of both sides to ensure a better enabling environment for bilateral trade," said an official statement.