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Indo-Pak trade doubles to $476 mn

August 28, 2004 14:17 IST

Bilateral trade between Indian and Pakistan has gone up by more than 100 per cent increase at $476 million in 2003-2004 over that of the previous year.

The statistics released by Pakistan ahead of next week's foreign ministers meeting in New Delhi show that the level of total trade between the two countries stood at around $476 million in 2003-04 against $237.1 million during 2002-03.

Indian exports to Pakistan rose to more than $382.3 million in 2003-4 against $166.50 million in the previous year registering an increase of 129.6 per cent, according to figures published in Pakistani daily Dawn.

Pakistan's exports to India stood at $90.68 million in 2003-04 against more than $70.6 million in 2002-03, registering an increase of 28.3 per cent.

Trade volumes touched a low in 2002-03 due to bilateral tensions during which the two countries snapped communication links in the aftermath of the attack on Indian Parliament.

However, there is growing concern in the official circles in Islamabad over the increasing level of trade deficit, the report said.

The figures showed that Pakistan's trade deficit with India rose by 201 per cent to more than $288.6 million during the fiscal 2003-04 against $95.845 million registered in the previous year.

The issue of growing trade deficit and Pakistan's demands for more tariff concessions for its products was expected to be discussed during the September 5-6 meeting between External Affairs Minister Natwar Singh and Pakistan Foreign Minister Khurshid Mehmood Kasuri in New Delhi.

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