Pakistan to give India transit trade facility: Amin Fahim

[LRE]

By Our Reporter
Thursday, 01 Oct, 2009


Minister for Commerce and Trade Makhdoom Amin Fahim —APP Photo

LAHORE: Pakistan has signed a memorandum of understanding (MoU) to provide transit facilities to India for its trade with Afghanistan.

This was announced here on Wednesday by Commerce Minister Makhdoom Amin Fahim. He said formalities in this regard would be finalised, adding that national interests would be protected.

The minister told newsmen that the MoU was signed on a request from the Indian government to the effect that road and rail transit facilities should be provided for its trade with Afghanistan.

He said the government was trying to gain access for Pakistani products to the markets in European Union countries and the United States. Negotiations with the EU were taking time because all member countries of the bloc had to be taken on board, he added.

Answering a question about the high interest rate, the minister said it was the sole domain of the State Bank and the Ministry of Finance and his `ministry had no say in the matter.


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