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In a major initiative, India and Pakistan have decided to set up a Joint Study Group on Economic Cooperation between the two countries. This decision was announced folowing the meeting of Shri Kamal Nath, Union Minister of Commerce & Industry, with President of Pakistan Mr. Pervez Musharraf at a news conference in Islamabad by the Commerce Minister of Pakistan Mr. Humayun Akhtar Khan. The Joint Study Group will examine the possibilities of further preferential trade arrangements between India and Pakistan on goods and services as well as investment. It would also have sub-groups to look at possibilities in various areas. The Joint Study Group will be headed by the Commerce Secretaries of India and Pakistan.
Shri Kamal Nath who was in Islamabad in connection with the 4th meeting of the SAARC Commerce Ministers, called on the President Pervez Musharraf at his residence in Rawalpindi last evening and also met the visiting Prime Minister of Pakistan, Mr. Shaukat Aziz in New Delhi today. The Minister described his meeting with the President of Pakistan as very positive. Shri Kamal Nath briefed President Musharraf about his interaction with the Indo-Pak Chamber of Commerce in Islamabad and the very high expectations that the businessmen of Pakistan had on the trade and economic front. He conveyed to President Musharraf that while the potential of the two economies was enormous, the trade flows between the two nations continued to be very low. Shri Kamal Nath told newsmen that President Musharraf agreed that bilateral trade needed to be enhanced and that trade issues should be addressed along with all other issues in a composite dialogue.
Shri Kamal Nath said he had a very useful meetings with the SAARC Commerce Ministers as well as his host the Commerce Minister of Pakistan, Mr. Humayun Akhtar Khan.
The two-day deliberations of SAARC Commerce Ministers concluded yesterday.
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