Indian business houses may have to wait a little longer before they can freely export products to Pakistan. The neighbour country may take some time for transition to a negative list approach.
Speaking to media persons here on Monday, at a joint press conference with his Indian counterpart Mr Anand Sharma at the Wagah Border, Mr Makhdoom Amim Fahim, Senior Federal Minister for Commerce, Pakistan, said, “It is under process...” He declined to give any fresh deadlines.
On whether there will be a new deadline, he said, “If we set a new deadline today and tomorrow we slip, it will not be good.”
A small negative list was to be finalised and ratified by February. Thereafter, all items other than those on the negative list shall be freely exportable from India to Pakistan. In the second phase, the negative list was to be phased out. The timing of the negative list was also to be announced in February.
Though the Trade Ministers of the two countries expressed their commitments in strengthening bilateral trade, political overtones were evident. Captains of trade body FICCI, who are accompanying the Indian Minister, voiced a similar opinion that they are ready and eager to do business, if there is political will to do away with barriers.
Normalisation of trade
Pakistan's Cabinet has given a mandate to its Commerce Ministry for complete normalisation of trade with India. The move to full normalisation of trade relations is to be sequential. In the first stage, Pakistan is to switch from the current positive list approach to negative list. Currently, bilateral trade between the two countries is limited to 1,938 items. These products alone are importable from India. The rest of the items are totally banned. A large number of these items are confined to minerals, chemicals and other raw materials. Most of the manufactured finished goods, bulk drugs and pharmaceuticals, textile products and food products are banned.
As regards infrastructure and connectivity to boost ties, Mr Anand Sharma said, the construction of the integrated check post at the Wagah-Attari border will go a long way in enhancing trade ties. The Minister hoped that the construction would be ready by April . Earlier, it was expected to be completed by February.
On easy visa availability and people-to-people contact, a long standing demand of Indian Inc led by FICCI, the Pakistani Minister said, in-principal it was decided to allow benefits of multiple entry visa for the businessmen. He hoped it would be formalised soon.