MFN status to India by year-end: Pakistan

May 2nd, 2012 - 6:55 pm ICT by IANS  

Dubai, May 2 (IANS) Pakistan will grant India most favoured nation (MFN) status by the end of this year, the country’s commerce minister has said.

“There are some technicalities and after those are resolved then the final shape will be given,” Commerce Minister Amin Fahim has said.

The central banks of both countries are in touch to open branches in each other’s territory by early next year, Online news agency quoted Fahim as saying.

Both sides recently moved to improve trade relations. Pakistan has lifted restrictions on several Indian products, while India lifted a ban on direct investments in Pakistan.

“I believe the target is by the end of this year to complete all the requirements,” he said on the sidelines of an investment meeting here.

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