New Delhi: India and Pakistan have agreed to enhance economic and commercial cooperation. A joint statement issued at the end of the three-day visit of the president Pervez Musharraf, stated that both the leaders have agreed in their talks that they should increase road and rail links, revive a panel to promote trade and put in place more confidence-building measures.

While agreeing that the two economies of South Asia should work together for the greater prosperity of the region, the joint statement said the leaders have also decided to reactivate the ''joint economic commission'' "as early as possible." They also agreed that the ''joint business council'' should meet soon.

The leaders resolved to increase the frequency of the Srinagar-Muzaffarabad bus service that was inaugurated in April 7, and also decided that trucks would be allowed to use this route to promote trade. They have also agreed to operationalise additional routes, including that between Poonch and Rawalakot, and look forward to an early start of the bus service between Amritsar and Lahore and to religious places such as Nankana Sahib.

They also said that the Consulates General of the two countries in Mumbai and Karachi, respectively, would be opened before the end of the current year, to enable visa formalities for people and businesses to be made without much hassles.

In another important development, it was agreed that the Ministers of Petroleum and Natural Gas would meet in May to explore cooperation in the sector, including on the issue of the pipeline gas project between India and Iran through Pakistan.

Both the leaders proclaimed, "The peace process was now irreversible," kindling hope that economic and commercial cooperation would see a renewed momentum.

The joint statement said that conscious of the historic opportunity created by the improved environment in relations and the overwhelming desire of the people of the two countries for durable peace and recognising their responsibility to continue to move forward, the two leaders had "substantive talks" on all issues.

The Pakistan president, during his breakfast meeting with select media persons in the capital, said, "Our achievements on all issues are more than what I expected."

On Kashmir, he said, "It will need a lot of time and wisdom to arrive at a settlement. Let us go step by step."