Pakistani, Indian businessmen meet to boost trade ties | Japan Herald

Pakistani, Indian businessmen meet to boost trade ties

Japan Herald (ANI) Monday 7th May, 2012

Islamabad, May 7 (Xinhua-ANI): Top Pakistani and Indian business tycoons opened a two-day conference on Monday in Pakistan's eastern city of Lahore to foster deeper business ties as relationship between the two nuclear armed south Asian countries has seen substantial improvement in recent months.

A thirty-member delegation comprising Indian business leaders is attending the India-Pakistan Joint Business Council and will explore ways to promote trade relations, organizers said Monday.

The conference is a joint initiative of the Pakistan's leading Jang Group of publications and the Times of India newspaper.

The Prime Minister Yusuf Raza Gilani told the opening session that improved relations with India "are important for us as it offers a billion-plus market to the Pakistani exporters."

"We face many challenges and threats from forces inimical to peace. We are passing through turbulent times in our history in which non-state actors are determined to harm the peace process. Such forces are present on both sides of the border and we have to remain vigilant that they are not able to derail our hard earned gains," Gilani said.

Trade relations between the two countries witnessed a boost last year when Pakistan decided to grant the long-awaited Most Favored Nation (MFN) status to India

As a follow-up, earlier this year, Pakistan switched from a positive list regime to a negative list regime for trade.

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