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The volume of trade between India and Pakistan has shown a positive growth. During the year 2004-05, the volume of trade was valued at US $ 600.77 million as compared to US $ 344.59 million during 2003-04 registering an increase of 74%. It is expected that this positive trend will continue, although it is difficult to quantify the actual potential.
Shri Kamal Nath, Minister of Commerce & Industry, visited Pakistan to attend the Fourth Meeting of the SAARC Commerce Ministers held in Islamabad on 22-23 November, 2004. During his meeting with Pakistan’s Commerce Minister, it was, inter-alia, decided to set up a Joint Study Group (JSG) at the level of Commerce Secretaries of India and Pakistan for adopting a strategy for boosting trade between India and Pakistan. The JSG at its first meeting held in February 2005 in New Delhi constituted two Working Groups – (1) on Customs Cooperation and Trade Facilitation Measures and (2) on Non-tariff Barriers. The setting up of JSG is expected to pave the way for enhanced volume of bilateral trade as both the countries would, inter-alia, strive to address the problems relating to non-tariff barriers and customs cooperation.
SB/SS/MRS
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