labels: trade
India-Pakistan pact on to improve bilateral tiesnews
02 August 2007

During the meeting between commerce secretaries of Pakistan and India, India has agreed to Pakistan''s request to speed up the formalities for the certification of Pakistani cement as a measure to boost bilateral trade between the two neighbours.

India will now make changes in regulation to accept third-party certification for cement imports to India to its meet domestic requirements, but shipments are sometimes delayed due to the quality certification procedure of the Bureau of Indian standards. India will set up a task force to address Pakistani complaint of rules on quality standards acting as a deterrant to exports from Pakistan.

The two countries also agreed to set up a technical committee and jointly file application for geographical indication on the ''super'' variety of hybrid strain Basmati rice to end the dispute over sale of the rice variety in international markets, particularly Europe, where India''s rice exports have gained at the cost of Pakistan''s exports.

The two neighbours have also decided to allow banks from the two countries to open two branches in each other''s countries. Applications for branch licences would be processed by 31 December this year or within six months.

India also presented Pakistan a list of 484 items to be included in the positive list of products allowed to be traded with the country.

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India-Pakistan pact on to improve bilateral ties