New Delhi, December 20
An India-Pakistan joint study group on working out an economic cooperation agreement will soon meet to give an impetus to economic cooperation between the two countries.
Commerce and Industry Minister Kamal Nath told the Rajya Sabha that official trade between the two countries was 257 million dollars but it could go up to one billion dollars in the near future if certain obstacles were removed by Pakistan. He said the joint study group would look at certain preferential trading arrangements on goods, services and investments on a fast track basis.
The question relating to economic cooperation with
Pakistan came up in the House when Speaker of the National Assembly of Pakistan Chaudhary Amir Hussain, along with a Parliamentary delegation, was welcomed by Deputy Chairman K. Rehman Khan.
The presence of the Pakistan parliamentary delegation changed the mood in the House with the members cutting across party lines expressing their desire to improve economic relations with the neighbouring countries.
In lighter vein, senior BJP leader Sushma Swaraj wondered whether Pakistan was not giving India the most favoured nation (MFN) status because it would mean in Urdu that India would be the most admired country.
Congress member M.S. Gill read out an Urdu couplet conveying people’s desire to improve relations with Pakistan. Mr Nath said once the South Asian Free Trade Agreement took off, India’s need for Pakistan granting MFN status would be obviated.
Commerce and Industry Minister Kamal Nath said during Question Hour that the first meeting of the JSG, co-chaired by Commerce Secretaries of the two countries, was likely to be convened shortly.
The JSG would also discuss the possibility of enhancing economic cooperation in other areas of mutual interest, he said.
Mr Nath said as part of the composite dialogue, a meeting on economic and commercial cooperation with Pakistan was held at the Commerce Secretaries’ level in August this year in Islamabad for giving a positive direction to economic activities between the two countries. This was followed by a meeting of Commerce Ministers from the two countries in Islamabad to discuss a roadmap for promoting trade between the two sides and a decision to set up the JSG was taken, he said.
