AFTER two days of discussion and negotiations of secretaries of commerce, both Pakistan and India agreed to boost trade between the two countries on a mutual benefit basis.

This is good news for the people and businessmen of the two countries who want to promote peace and understanding through trade and economic ventures.

This was the fifth meeting between Pakistan and India on issues involved in the opening of trade between the two countries since 2008. The anticipated potential of trade between the two is about $10 billion, according to trade experts.

The official level of direct trade between the two is about $1.5 billion, which exclude Indian materials and equipment worth more than $2 billion that are entering Pakistan either from Dubai or through smuggling.

The most encouraging factor in this meeting was the agreement of allowing private banks to set up their branches in each other’s countries. Furthermore, businessmen and industrialists of the two countries should be allowed to establish joint ventures in each other’s countries.

Free movement of goods and people between the two countries will help them to develop understanding to solve the political dispute. This has been hindering their cooperation in the economic field.

STH Lahore