Pak hopeful of breakthrough on PTA
By INDIATIMES NEWS NETWORK |
New Delhi: Pakistan has said that it hoped to reach a “breakthrough'' with India in the fight over restricting imports from India under the South Asia Free Trade Agreement (Safta) to the handful of products included in the bilateral positive list. Pakistan's minister of state for commerce Hamid Yar Hiraj, who is heading a business delegation to India, said the details of the plan could not be divulged yet.
India had objected to Pakistan's decision of extending preferential tariff benefits under Safta only on 1,077-odd Indian products included in the bilateral positive list. On the other hand, Pakistan allowed Safta members preferential access for more than 4,000 products and bars access to just 1,183 items on the negative list. India had argued that discriminating against India went against the provisions of Safta. Pakistan's continued refusal to grant India the most favoured nation (MFN) status--a pre-requisite under the Safta-- will also be taken up by India in the next Saarc ministerial in Kathmandu later this month on February 26.
"We are hopeful of a breakthrough. We are hoping for better trade relations with India," Mr Hiraj said when quizzed on the issue by the media. Hiraj is leading a 187-member business delegation, the largest-ever from Pakistan to India.
The minister, however, refused to elaborate of Pakistan's plans to deal with the issue. Mr Hiraj, who met commerce minister Kamal Nath on Monday, said the positive list issue and other problems related to full implementation of SAFTA would be discussed in Kathmandu.
Meanwhile, India's trade with Pakistan in the first seven months of the current financial year increased by a sharp 129% from April-October 2006-07 to $ 977 million. This comprises India's exports to Pakistan valued at $ 789.13 million and India's imports from Pakistan valued at $
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