India, Pak agree on easing norms for cement, tea trade

The two-day Secretary level trade talks between India and Pakistan ended here today with New Delhi easing norms for the cement import from Pakistan, and latter too agreeing to facilitate tea import from India.

New Delhi, Aug 1 : The two-day Secretary level trade talks between India and Pakistan ended here today with New Delhi easing norms for the cement import from Pakistan, and latter too agreeing to facilitate tea import from India.

Both sides issued a joint statement simultaneously from New Delhi and Islamabad, where they announced forming of a Joint Working Group to discuss issues relating to joint registration of Basmati rice.

The first meeting the joint-working group will be held at an early date.

On the issue of cement import from Pakistan, India agreed to complete all statutory certification related formalities on a fast track, and also informed the Pakistani side that it is already in the process of making appropriate policy changes to accept third party certification.

Pakistan, world's third largest consumer of tea, on the other hand agreed to facilitate and encourage import of tea through rail from India, world's largest producer.

The Indian delegation also handed over a list of 484 tariff lines for inclusion in the positive list of items importable from India.

Both countries agreed to finalise opening of bank branches in either country, and agreed to finalise the processing of the applications for two bank branches in either country within six months of the receipt of applications or by December 31, 2007.

The Indian delegation was led Commerce Secretary G K Pillai, while Pakistani side was led by its Commerce Secretary Syed Asif Shah.

Both sides expressed hope that the bilateral trade would touch 10 billion dollars by 2010 and also stressed on the need to improve the infrastructure at the designated border crossing points.

India's exports to Pakistan grew from 521.05 million dollars in 2004-2005 to 1348.32 million dollars in 2006-2007, while Pakistan's exports to India grew from 94.97 million dollars in 2004-2005 to 323.19 million dollars in 2006-2007.

ANI