India, Pak agree to increase bilateral trade, economic engagement

New Delhi, July 27 (ANI): India and Pakistan on Wednesday agreed to expand bilateral trade and economic engagement on mutually beneficial terms.

A joint statement issued here after talks between the foreign ministers of the two countries-S.M.Krishna and Hina Rabbani Khar-said the ministers agreed that increase in trade and economic engagement between the two countries would be mutually beneficial.

In this context, both Krishna and Khar emphasized the importance of the early establishment of a non-discriminatory trade regime between the two countries, including reduction/removal of tariff and non-tariff barriers.

They also emphasised the need for facilitating trade and redressing trade imbalance.

Both ministers expressed satisfaction over the outcome of the April 2011 commerce secretaries meeting, and appreciated the number of steps agreed upon to realize the full potential of bilateral trade. (ANI)