India, Pak agree to work on simplifying visa rules

Commerce minister Anand Sharma and his Pakistani counterpart Makh-doom Muhammed Amin Fahim have agreed that there is a need for liberalising business visa regime.

The visa regime is a major irritant between businessmen from both countries as the visas are given for specific districts and not the country as practiced by most nations in the world, said Pakistan senator Haji Ghulam Ali, who is also the president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI)

“We have urged the concerned officials on both sides to expeditiously conclude the liberal business visa regime by November which will rapidly expand the vistas of bilateral commerce,” said Sharma.

His Pakistan counterpart has recognised that the grant of most favoured nation (MFN) status to India would be a key step in expanding bilateral trade relations.

Sharma informed business leaders from India and Pakistan at a session hosted by Ficci that he will visit Pakistan soon with a business delegation.

Sharma pointed out that trade in petroleum, energy and commodities would be significant steps for building long-term stake in each other’s economy.

“Strengthening the border infrastructure remains a high priority for us and I was happy to be informed that the Integrated Check Post which is being constructed at the Attari-Wagah Border at a cost of Rs 150 crore will be operational by the end of the current year," said Sharma.

Later, Sharma told reporters that central banks from both countries are likely to discuss about opening up of bank branches in each other's territory.

Early next year, Pakistan will be chairing the Safta ministerial meeting and this meeting is being touted as a key event, which may give shape a new direction to SAFTA regional framework.

According to Ficci's status paper on status of India-Pakistan economic relations, India is reducing peak tariff rates for Pakistan to 8 per cent by January 1, 2012. The rates would be further reduced to 5 per cent in 2013.

Fahim told reporters: "Let us make a short negative list and strive for a longer list of friends."

Pakistan has recently announced its intention to move over from the positive list to negative list on trade with India.

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