India and Pakistan are all set to see a new era on the trade front, as Pakistan has assured to dismantle the negative list by October end and also grant Most Favoured Nation (MFN) status to India by end of 2012.
This was disclosed by Indian Commerce scretary SR Rao, who returned back to India after holding talks with his Pakistani counterpart Munir Qureshi.
Talking to the media persons after reaching India, Rao said, "It was a very successful visit and key decisions were taken that would go a long way in trading and commercial relations of both countries.
Detailing on the outcome of the two-day meet, Rao said, "Pakistan has agreed to dismantle the negative list by end of October and now it is certain that the tradable items through Attari will grow. Once Pakistan dismantles its negative list, India will also do that, paving way for better trade relations."
Stressing that key issues were discussed during the meeting in Pakistan, Rao said, "We have also offered Pakistan to sell 100 locomotives and also a gas pipeline."
The Gas Authority of India would bee able to sign an agreement with Pakistani agency in couple of months. Plan is to pipe 5 million cubic meters gas per day into Pakistan for their use, he added.
The Commerce secretary also mentioned that discussion was made to increase the aerial connectivity between the two capitals and operate flights between Delhi and Islamabad daily.
During this seventh round of commerce secretary level talks, decision was made to increase the frequency of goods train between India and Pakistan through Attari and discussion was held on starting trading from the Manabau border of Rajasthan.
Rao claimed that decision has been taken on increasing rail frequency through Attari so that more goods could be transported.
Both the countries also decided that cement clinker currently imported from Pakistan through road will now be imported through train, as this will be economical and environment friendly.
During the talks both nations also decided to establish Common Business Council that would work for promotion of trade relations.
Both countries would exchange names of business leaders that would represent this council in next 15 days.