ISLAMABAD: Pakistan would soon award India with the Most Favoured Nation (MFN) status to further promote trade between the two neighboring countries, Senior Minister for Commerce Makhdoom Amin Fahim said on Thursday.

Addressing a press conference here on Thursday, Fahim said that the decision to award India the MFN status has already been taken, and that it will soon be implemented.

The senior minister said that the government was determined to protect the interests of the local industries, adding that all reservations of the local trade and industrial sector need to be addressed before implementation of the decision.

Fahim said that under the Strategic Trade Policy Framework 2012-15, the target for trade with India was set at US$ 1.5 billion, which currently stood at only US$ 300 million.

The minister said that exports from the country during the first six months of the current financial year grew by 8 per cent, which was a positive sign for Pakistan’s economic development.