05 August 2004	Thursday	18 Jamadi-us-Saani 1425

ISLAMABAD, Aug 4: Pakistan and India will start formal talks on trade related issues for enhancing volume of bilateral trade between the two countries, officials told Dawn.

An Indian delegation led by commerce secretary is scheduled to arrive in Islamabad on August 12 for holding talks on potential areas to increase the bilateral trade.

Talking to Dawn on Wednesday, Commerce Secretary Tasneem Noorani said that during the meeting a strategy would be worked out for a fair trade between the two countries. He, however, did not specify the agenda of the meeting, but said that all trade related issues would come under discussion.

"The trade will be carried out in a manner which can be equally beneficial for both the countries," the secretary said. The statistics showed that the volume of average total trade between the two countries stood at $237.173 million. Pakistan's trade with India, which was in surplus in the year 1998-99, turned into deficit during the last four years.

Commenting on the July package recently signed by WTO-member countries for resuming talks on Doha Development Agenda, Mr Noorani said that it was hoped that the round would be completed by December 2005. Mr Noorani was representing Pakistan's technical delegation to the meeting at Geneva.

He said that during the period, the member countries would chalk out an agreed formula with a time frame for cutting down their domestic support, export subsidies and opening of markets.

Mr Noorani said that developed countries agreed to scale down domestic support by 20 per cent in the first year of the implementation of the agreement, which would provide a level-plying field for the products of developing countries.

He said that during the up-coming trade and investment framework agreement (TIFA) meeting scheduled for September in Washington, measures would be discussed for increasing bilateral investment between Pakistan and the US.

The commerce secretary said that an enforcement wing was established in the commerce ministry to pursue effective implementation of trade policy initiatives announced in the Trade Policy 2004-05.