NEW DELHI, Aug 7: India and Pakistan will hold two-day talks on economic and commercial cooperation on August 9 and 10 within the framework of the composite dialogue process.
A high-level trade delegation led by Pakistan’s commerce secretary, Syed Asif Shah, will arrive here Monday to begin secretary-level talks on economic cooperation. Textiles, fruits and dry fruits from Pakistan will attract lesser duty in India as part of a major confidence building initiative to be announced by New Delhi soon, according to a news report here.
Import duties on these items would be lesser as a result of India’s decision to replace specific duties on these goods with simple duties, the report said.
The proposal to remove specific duties and replace them with simple duty will be taken up by Prime Minister Manmohan Singh’s trade and economic relations committee after Indo-Pak commerce secretary-level talks on economic cooperation, the report maintained.
Meanwhile, an official news release issued here said that Indo-Pak bilateral trade had risen by 76 per cent, touching $600.77 million in the fiscal year 2004-05.
With a view to enhance bilateral trade, both countries had last year decided to set up a joint study group on economic cooperation. The first meeting of the JSG was held in February this year.
Under the JSG, two working groups have been set up on customs and trade facilitation measures and non-tariff barriers with a view to enhance cooperation in these areas.
Indian exports to Pakistan include iron, ore, dyes and chemicals, drugs and pharmaceuticals and plastic and linoleum products among others, the release said. Fruits and nuts, cotton yarn and fabric, pulses, spices, man-made filament and leather top the list of products being imported from Pakistan, it said —APP
