The two countries started the negotiations to normalise trade ties in January 2011. Both sides have already made considerable concessions to each other that include removal of import ban on a number of Indian products by Pakistan and lowering of duties on specific items from Pakistan by India.
Pakistan, which earlier allowed imports of less than 2,000 items based on a positive list of items, now, allows over 6,800 items from India.The current bilateral trade between India and Pakistan is at a low $2 billion. But estimates made by research bodies like ICRIER state that it could grow several times once trade and non-trade barriers are removed.
Commerce Secretaries of both the countries are scheduled to meet on the sidelines of the SAARC trade Ministers’ meeting in New Delhi beginning January 17. Commerce & Industry Minister Anand Sharma and Pakistan’s Minister of State for Commerce Khurram Dastgir Khan are also scheduled to hold a bilateral meeting at the SAARC event.
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