Indo-Pak trade boost | business | Hindustan Times
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Indo-Pak trade boost

India and Pakistan are set to allow banks to open branches in each other's countries, simplify visa rules for business persons and ease land routes as the two South Asian neighbours lay out the ground rules for greater trade and economic engagement.

business Updated: Sep 29, 2011 23:32 IST
HT Correspondent

India and Pakistan are set to allow banks to open branches in each other's countries, simplify visa rules for business persons and ease land routes as the two South Asian neighbours lay out the ground rules for greater trade and economic engagement.

"Both of us agreed that a meaningful economic engagement necessarily requires greater movement of business people and there is a need for liberalising business visa regime," said Anand Sharma, commerce and industry minister on Thursday at India-Pakistan business conclave organised by the industry chamber FICCI.

"We have urged the concerned officials on both sides to expeditiously conclude the liberal business visa regime by November which will rapidly expand the vistas of bilateral commerce," Sharma said.

Pakistan commerce minister Makhdoom Muhammad Amin Fahim, who is on a five-day visit to India, expressed optimism at the dawn of a new era of trade and investment relations with India as "both countries are now poised to open bank branches, and land routes."