India-Pak trade rises 129%

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New Delhi Feb. 19

India and Pakistan on Monday resolved to boost bilateral trade and to promote economic and commercial cooperation within the framework of composite dialogue in the light of a "phenomenal increase" in two-way trade.

This was indicated at a meeting between the Union Commerce & Industry Minister, Mr Kamal Nath, with Pakistan's Minister of State for Commerce, Mr Hamid Yar Hiraj, when the latter called on Mr Kamal Nath here.

There has been a phenomenal spurt of 129 per cent in India's trade with Pakistan in the first seven months of the current fiscal as two-way trade has reached a record $977.03 million.

Export, import

This comprises India's exports to Pakistan valued at $789.13 million and imports from Pakistan valued at $187.90 million.

India's imports from Pakistan have been growing at a steady pace of 87 per cent in 2005-06 and 86 per cent in the seven months of the current fiscal.

The Pakistani Minister is leading a 187-member business delegation to India, the largest-ever business contingent from Pakistan to India, an official release said here.

Taken from Business Line

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