naveen mishra
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NEW DELHI — India and Pakistan agreed at the weekend to allow round-the-clock movement of trucks and containers through their main border crossing, signalling a thaw in relations after a year’s standoff over military tensions on the border.
Trade ministers of the two countries meeting in New Delhi also approved a liberalised visa policy for businessmen to help expand two-way trade, which was barely $2.5bn in 2012-13 fiscal year against a potential $10bn.
Both sides hope closer integration of Pakistan with India’s giant economy would help to lay the ground for a lowering of political tensions between them.
"We have agreed that we will open Wagah-Attari border 24/7 for trade," Anand Sharma, India’s trade minister told reporters, referring to the main border crossing in Punjab. The border gates at the moment are open only from dawn to dusk.
Pakistan also agreed to provide nondiscriminatory market access to Indian companies. Over the last year there was little movement on trade because of a series of incidents over military control of the line dividing Kashmir between the two countries.
Two years ago, the two countries set a goal of taking bilateral trade to $6b n by 2014, which now seems difficult to attain.
Pakistan’s Commerce Minister, Khurram Dastgir Khan, said the country’s central bank had proposed India granting banking licences to three Pakistani banks, a move that would be reciprocated by his side.
India’s ties to Pakistan mending | Asia-Pacific | BDlive