| Date: |
13-04-2012 |
| Subject: |
Pakistan imports: Duty cut on 260 items in four months Close |
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NEW DELHI: India will honour its promise to Pakistan to reduce import duties on about 260 items within the next four months, a senior government official has said.
Both countries are also ready with a new visa agreement that will allow business visitors a one year multiple entry visa for multiple cities. "Since Pakistan started its trade normalisation process with India in March, we will abide by our commitment of reducing our sensitive list by July-end," the official told ET.
Pakistan commerce minister Makhdoom Amin Fahim will discuss the items where it wants duty cuts in his meeting with his Indian counterpart Anand Sharma on Friday.
India had promised Pakistan that it would reduce its sensitive list of 865 items not given preferential market access under the South Asia free trade agreement by 30% within four months of Pakistan starting its trade normalisation process. Last month Pakistan switched over to a negative list allowing import of all items from India other than about 1,209 in the list which will be dismantled by the year-end.
Source : economictimes.indiatimes.com
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