Trade between India and Pakistan has shown enormous buoyancy and is expected to cross $1.5 billion in 2006-07. Exports to Pakistan in April-December (2006-07) stood at $980.33 million while imports were $247.48 million during the same period.
A business delegation led by Muhammad Nasir Khan, President of Islamabad Chamber of Commerce and Industry, called on Kamal Nath, Union Minister of Commerce and Industry and expressed hope that the economic ties between the two countries would strengthen in the near future to benefit both countries.
Kamal Nath highlighted the many benefits that could accrue to both India and Pakistan if trade relations improve, as it would make both countries more competitive in an increasingly globalised economy.
He expressed hope that Pakistan would grant the much awaited most favoured nation status to India and said that the segment of trade between two nations that currently took place through third countries would then be replaced by direct trade.
The Pakistan delegation requested the Minister to ensure easing of visa regime for Pakistani businessmen by the Indian government. Kamal Nath assured that Government of India was committed to strengthening economic ties with its neighbor and this issue would be taken care of in due course.
The main commodities of exports to Pakistan include sugar, dyes, plastic and petroleum products and cotton while main import items from Pakistan are petroleum and crude products, fruits & nuts (excluding cashew nuts), cotton yarn & fabrics and organic chemicals.