Trade between rival neighbours India and Pakistan is seen doubling to over 1 bln usd in the current year
Juhi Singhal
Mar. 19, 2006

India and Pakistan in spite of little progress in stategic peace initiatives are on track for doubling trade between them.

According to media reports, trade between rival neighbours India and Pakistan is seen doubling to over 1 bln usd in the current year to March, the Associated Chambers of Commerce and Industry said in a statement.

The industry body noted that an increase of 400 mln usd was largely due to the launch of a South Asian Free Trade Area Agreement (SAFTA) and the opening of rail and road links last year.

"The establishment of relations along with SAFTA has brought changes in customs tariffs and reduced trade-related barriers, leading to restoration of direct trade linkages and reducing the transaction costs," the statement quoted by the Press Trust of India news agency, said.

Trade between rival neighbours India and Pakistan is seen doubling to over 1 bln usd in the current year
Juhi Singhal
Associated Chambers of Commerce and Industry said in a statement.....
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