Key Meeting in Delhi on Cross -LoC Trade
Srinagar, Nov 17(KONS): Efforts to establish trade ties across the LoC have intensified with the officias of the Pakistan trade authority having met the union minister of commerce, Kamal Nath, and his deputy, Jairam Ramesh, in New Delhi recently. The Pakistani delegation was led by Chief Executive of Pakistan’s Trade Development Authority (PTDA), Tarik Akram.
The meeting reviewed the progress made on steps required to be taken or starting bilateral trade across the LoC.
The list of items considered for export from this side of the LoC includes carpets, wool products, tapestry furniture, silk products, Kashmiri plants, spices, black mushrooms, green tea and handicraft products.
India has proposed geographical indicators for Kashmir handicrafts, and Pakistan has objected to five of the fourteen items placed on the exports list by India, saying that they are being produced in Pakistan as well.
Geographical Indicators are used for products that are a specific to a geographical area.
Though the developments have given a sort of a set back to the prospects of trade between Srinagar and Muzaffarabad, both sides have agreed to hold a meeting of experts at the Wagah check point next month to consider building high-tech infrastructure for cross LoC trade.
India is learnt to have earmarked Rs 700 crore for the purpose, and Pakistan is keen to make an investment of matching magnitude.
The union minister of state for commerce, Jairam Ramesh, has said that the Indian firm, Tata Consultancy was willing to set up a development centre in Lahore, and India would provide Pakistan technical advice and training for expertise required in the diamond industry.
‘Similarly, resolution of issues like business visa, delays in issuance of visas etc., are issues part of a holistic package, where political considerations will play a crucial role,’ a Pakistani official was quoted by local media as saying.
Trade between India and Pakistan stood at $1.6 billion in 2006-07.