As India and Pakistan agreed to resume talks at political level, Islamabad has said it is ready to discuss bilateral trade, including the grant of most favoured nation status to India, when the dialogue process begins next month to resolve Kashmir and other issues.
"We are ready to start talks on bilateral trade issues with India after the initiation of composite dialogue to resolve all disputes," Pakistani Commerce Minister Humayun Akthar told reporters in Islamabad.
In the past, Akthar had said the steps to promote bilateral trade and granting of MFN status to India would go simultaneously with the progress of talks to resolve the Kashmir issue.
While terming as "landmark" the signing of the South Asian Free Trade Area Agreement at the SAARC summit, he said the agreement would promote and enhance mutual trade and economic cooperation among the SAARC countries and eliminate trade barriers and facilitate cross-border movement of goods in the region.
Akhtar said preparatory work on SAFTA could come into force with effect from January 1, 2006 and the agreement would be fully implemented by 2010.
He said currently preparation of the "sensitive list" both for the developing countries and least developed countries of the SAARC region was on keeping in view the best national interest.
The sensitive list would take into account issues like protection to the local industry and trade, framing of Rules of Origin, mechanism for Revenue Loss Compensation on account of SAFTA to least developed countries among SAARC members, and technical assistance to LDCs to give full effect to the provisions of SAFTA, he said.