The Hindu : International / India & World : Musharraf hopes to improve trade ties with India

Online edition of India's National Newspaper
Wednesday, Nov 24, 2004

International

International - India & World

Musharraf hopes to improve trade ties with India

By B. Muralidhar Reddy

ISLAMABAD, NOV. 23. The Pakistan President, Pervez Musharraf, has said that the resolution of disputes was vital to improving economic cooperation in the region even as Commerce Ministers of India and Pakistan formed a Joint Study Group (JSB) to take a "comprehensive" look at improving economic relations.

The Union Commerce Minister, Kamalnath, who was among the SAARC Ministers who called on Gen. Musharraf today, said the Pakistan President had expressed hope that trade with India can be improved through the composite dialogue process.

The Minister, who returned home after attending a two-day meeting of Commerce Ministers from SAARC, said Gen. Musharraf had told him that he look forward to greater economic trade cooperation with India.

An official statement said the Pakistan President had emphasised the importance of intra-regional cooperation in his interaction with the Ministers. Population in the region was growing rapidly and millions of jobs needed to be created every year; trade between the SAARC countries can help meet the requirement.

Earlier, Mr. Kamalnath and his Pakistan counterpart, Humayun Akthar Khan, announced the formation of the JSB after a bilateral meeting to review steps to improve trade ties between the two countries. "We have agreed to form a joint study group which will come into business shortly. This will look at aspects of enhancing economic co-operation between India and Pakistan and look at all aspects of economic relations," Mr. Kamalnath said.

Mr. Khan said: "This announcement of joint study group is significant. It will look at our economic relation comprehensively and suggest measures to enhance this relationship," he said.

Petroleum Ministers of the two countries will discuss issues such as the import of high-speed diesel from India to Pakistan when they meet to discuss the Iran-India gas pipeline. Mr. Khan said the Prime Minister, Shaukat Aziz, who arrived in New Delhi today on a two-day visit would discuss improving trade relations.

At a press conference, Mr. Khan and his counterparts from South Asia said SAARC Commerce Ministers had decided to form a special committee to improve trade and economic cooperation among member-countries. It was also agreed to evolve a common strategy to confront the challenges of poverty, backwardness, illiteracy and hunger in the region. "We are quite satisfied with the discussions and outcome of the meeting as it will determine new ways of cooperation among member-states."

Mr. Khan said the Ministers were satisfied with progress on the Framework Agreement on Free Trade (SAFTA). "We also looked at other issues, including trade facilities, tariff, taxation and custom issues to accelerate the pace of cooperation."

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