29 Feb '12, 7pm

Pakistan to normalise trade with India by year end

Pakistan to normalise trade with India by year end

ISLAMABAD: Pakistan will phase out major restrictions on Indian imports by the end of this year, the government said Wednesday, in a bid to normalise trade with its nuclear-armed neighbour. Information Minister Firdous Ashiq Awan said Islamabad will gradually scrap a "negative list", which bans hundreds of items from India and places barriers on other trade. "Normalising trade ties with India is in the interest of Pakistan as it would not only help strengthen the national economy but boost economic activities in the region also," Awan told reporters. The government "decided in principle to phase out the negative list between the two countries by December 31, 2012, which will complete the trade normalisation process", she said. Deepening economic engagement between the two countries, which have fought three wars since independence from Britain in 1947, is seen as crucial to...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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