India-Pak to sign pacts on customs,relook trade issues: Sharma

The memorandum of understanding for these agreements was signed during Sharma’s visit to Islamabad in February.

Written by Express News Service | New Delhi | Published: September 5, 2012 12:52 am

Commerce and industry minister Anand Sharma on Tuesday said that India and Pakistan will soon sign three agreements in areas of customs cooperation,mutual recognition of standards and redressal of trade issues,to strengthen the economic ties between the two nations.

The memorandum of understanding for these agreements was signed during Sharma’s visit to Islamabad in February. “The agreements will be signed soon. It is a matter of weeks,maximum,” he said while addressing a Pakistani Parliamentary Delegation here. The 13-member Pakistani delegation,led by deputy leader of Senate Sabir Ali Baloch,is here on a visit.

Emphasising that the trade between the two nations are well below potential,Sharma said that the three pacts aim at streamlining trade between the countries and remove irritants that have prevented bilateral trade from realising its potential.

He also added that India would soon clarify the issue of permitting Indian businessmen to invest in Pakistan.

“There were some doubts,whether Indian industry are allowed to invest or not. The answer is yes. It is just a procedural formality. I have been informed that it is getting addressed. It is a just a matter of days. So both ways investment flow will start,” Sharma said. India has recently notified allowing Pakistani businessmen to invest in India through government approval route.

On the visa issue,he said an agreement would be signed soon and India is ready to provide multiple entry visa to Pakistani businessmen.

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