India-Pakistan bilateral trade up 76% in FY05

ECONOMY BUREAU
Monday, August 08, 2005 at 0018 hours FE

NEW DELHI, AUG 7: Bilateral trade between India and Pakistan grew by 76% to $600.77 million in the fiscal 2004-05. The growth is attributed to the important trade initiatives undertaken by the two countries in last fiscal.
While India’s exports to Pakistan have doubled to $505.44 million in 2004-05 from $286 million in 2003-04, its imports from Pakistan have also increased to $95.33 million in 2004-05 from $57.74 million in 2003-04, commerce and industry minister Kamal Nath said on Sunday.

In rupee terms, trade between the two neighbours during 2004-05 grew 70% to Rs 2,699.36 crore compared with Rs 1,583.42 crore in 2003-04, said an official release.

With a view to enhance bilateral trade, both countries had last year decided to set up a joint study group (JSG) on economic cooperation. The first meeting of the JSG was held in February this year in New Delhi.
Under the JSG, two working groups have been set up on customs and trade facilitation measures and non-tariff barriers with a view to enhancing cooperation in these areas.

India’s exports to Pakistan included iron ore, dyes and chemicals, drugs and pharmaceuticals, and plastic and linoleum products, among others.
Fruits and nuts, cotton yarn and fabrics, pulses, spices, man-made filament and leather were the major items imported from Pakistan, the release added.

Border Crossing
• Trade initiatives undertaken last fiscal by the two countries led to the growth
• India’s exports to Pakistan doubled to $505.44 million
• Imports from Pak went up to $95.33 million from $57.74 million

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