Pak-India trade talks to facilitate private sectors ISLAMABAD: Secretary Commerce Zafar Mehmood said Wednesday the private sectors of Pakistan and India would be facilitated for the benefit of the people of the two countries and for the greater goal of economic prosperity.

"The private sector is an engine of economic growth and we are talking about boosting trade relations through this sector," Mehmood told journalists after participating in the 5th round of Pakistan-India Commerce Secretary-level talks here on Wednesday. "We want to provide a policy framework for trade facilitation between the two countries' private sectors."

Mehmood said talks were moving forward in a positive and friendly atmosphere and without any hesitations. He said the issue of removal of non-tariff barriers between the two countries had also came under discussion during talks. Talking about the volume of bilateral trade between the two countries, the Commerce Secretary said current figures of Pakistan's export and import with India stood at US $300 million and $1.3 billion respectively.

Zafar Mehmood and Indian Commerce Secretary, Rahul Khullar, met in Islamabad on Wednesday to start the 5th round of talks to further trade and economic relations through the composite dialogue process. Pakistani High Commissioner to India, Shahid Malik, and Indian High Commissioner to Pakistan, Sharat Sbharval, are also participating in the talks.

Khullar, along with a six-member delegation arrived here on April 26, to hold talks with his Pakistani counterpart on trade-related issues. In his opening remarks Mehmood welcomed the Indian delegation and said both sides were open for talks on issues of mutual interest. He added that between 2004 and 2007, four rounds of talks were held between the two countries under the composite dialogue process. For various reasons talks could not be held since 2007 but the initiative was now being restarted.

He expressed the hope that this 5th round of talks between the two countries would help boost trade and economic relations and lead to peace in the region. "We are determined to make the 5th round of talks successful and fruitful," Mehmood remarked.

In his remarks, the visiting Indian Commerce Secretary thanked the Pakistan government for its hospitality. "We are here for talks to boost our mutual trade and economic relations", he remarked. "Pakistan and India can resolve their issues through the process of dialogue and we are here in that spirit."

Thursday, April 28, 2011