Trade between India-Pakistan to surge in 2016, say authorities

Poonch, Jan 09 (ANI): Bilateral trade between India and Pakistan is likely to surge in 2016 after the installation of full body scanner at Chakan Da Bagh crossing point on the Line of Control (Loc) in Poonch district, said authorities. The cross-border trade between India and Pakistan started in 2008. Till December 31, 2015, a total of 14,964 Indian trucks crossed over LoC and 8,704 trucks from Pakistan entered the Indian borders. However, Assistant Commissioner of Poonch, Shafiq Ahmed, said the installation of full body scanners will give fillip to the trade between the neighbouring countries. The volume of bilateral trade between the two nations from 2008 to 2015 was recorded at USD 164.27 million. The trade between India and Pakistan is based on barter system and not currency exchange. Both the countries trade goods of equal value.