Pakistan to allow more imports from India
22 Nov 2011
Pakistan has withdrawn import restrictions on 12 more Indian export items, according to officials.
The goods include machinery as also raw materials for leather and textile industries, according to Xinhua which quoted unnamed officials yesterday. Both India and Pakistan are in the process of boosting trade between them following a recent thaw in ties.
Pakistan says it would grant India most favoured nation (MFN) status as a measure to help in normalisation of trade ties. India had granted MFN status to Pakistan in 1996.
Pakistan's commerce ministry had urged the Economic Coordination Committee (ECC), the top decision-making body on economic affairs, to hike the number of import items from India.
India-Pakistan trade stood at $2.5 billion in 2010-11 as the two countries look to double the figure over the next five years.
The heads of both nations hailing the progress in diplomatic ties have promised a "new chapter" in relations while meeting on the sidelines of a regional summit in the Maldives recently.
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