India and Pakistan Agreed to Double Bilateral Trade to Six Billion US Dollars

India and Pakistan have agreed to normalise their economic relations and jointly work to double bilateral trade to six billion US dollars by 2014. This was agreed during a meeting between Commerce and Industry Minister Anand Sharma and Pakistan Commerce Minister Makdhoom Mohammad Amin Fahmin in New Delhi. At present, their bilateral trade is 2.7 billion US dollars. Pakistan has also agreed to implement all the obligations under the South Asian Free Trade Area, SAFTA Agreement meeting a long pending demand from India.

A joint statement was issued after the meeting. The statement said that both Ministers will work together to enhance bilateral trade. It also said that fully normalised commercial link between both countries would strengthen the bilateral relationship and build the bridges of friendship, trust and understanding for the mutual benefit of their people and promotion of prosperity in South Asia.

The Ministers noted that in the past few months, India and Pakistan have constructively engaged towards a liberalized business visa regime. They expressed that they now expect this matter to be expeditiously concluded before November 2011. The new business visa regime would allow multiple entries and could be for a period up to one year.

India and Pakistan Agreed to Double Bilateral Trade to Six Billion US Dollars

India and Myanmar Agreed to Set 3 Billion US Dollars as Trade Target

India and Myanmar on 27 September 2011 agreed to set a 3 billion US dollars as trade target. The trade target will be achieved by 2015. At present, the bilatral trade between India and Myanmar is 1.5 billion US dollars. This was decided at a fourth meeting of joint trade commission which was attended by the Union Commerce Minister, Anand Sharma and the Myanmar’s Minister of Commerce, U. Win Myint.

India and Myanmar also agreed to build a Land Custom Station at India-Myanmar Border (Mizoram) to facilitate the movement of vehicles and goods entering and leaving Mizoram. Both nations noted that the border trade point at Moreh on the Indian side and Tamu on the Myanmar side had huge potential for normal trade.

It should be noted that one third of India’s imports of pulses and one-fifth of India’s imports of timber are from Myanmar. At present, pulses and wood products accounts for 97.5 percent of Myanmar’s total exports to India while pharmaceuticals and buffalo meat accounted for 45 percent of India’s total exports to Myanmar.

India and Myanmar implemented the India-ASEAN (Association of Southeast Asian Nations) Free Trade Agreement (FTA) on 1 September 2010. India had also implemented the Duty Free Tariff Preference (DFTP) scheme for Myanmar in January 2009, under which Myanmar would gain market access for 94 per cent of India’s products at zero duty. India and Myanmar have also increased the list of items for border trade from 22 to 40.
India and Myanmar Agreed to Set 3 Billion US Dollars as Trade Target

The First Strategic Economic Dialogue between India and China was held in Beijing



India and China held their first Strategic Economic Dialogue in Beijing on 26 September 2011. India and China agreed to deepen bilateral investment cooperation, further open up markets to each other and improve the investment environment.
India and China also agreed to strengthen cooperation on energy efficiency and conservation, as well as on environmental protection. In order to promote sustainable development, the two sides agreed to cooperate in the renewable energy sector. The two sides agreed to host the next SED in 2012 in India.
Strategic Economic Dialogue will increase mutual understanding and trust between India and China. Through this dialogue, both nations could share their experience to achieve economic development. Although the bilateral trade crossed 61 billion US dollars in 2011, India was left with deficit of over 40.9 billion US dollars due to accelerated exports from China.

The First Strategic Economic Dialogue between India and China was held in Beijing

India and Nepal Resumed Security Dialogue after a Gap of Four Years

India and Nepal resumed bilateral talks on security issues in Kathmandu on 22 September 2011. The-two-day joint secretary level talks between India and Nepal was resumed after a gap of four years. The last one was held in New Delhi in 2007.

The Indian delegation was led by KK Mittal, joint secretary (Border Management) while the delegation from Nepal was headed by Sudhir Shah, joint secretary( Home Ministry).

Besides information sharing and security issues, India and Nepal also discussed about construction of the Nepal Police Academy at Panauti with Indian assistance of 5 billion Nepali rupees. The two nations also deliberated on border management and trans-border crime, human trafficking and smuggling of fake Indian currency through the open border.

Although India-Nepal agreement to hold joint-secretary level security talks every six months is in place, the security talks were not held for the past four years. India and Nepal share 1800 km long border between them.

India and Nepal Resumed Security Dialogue after a Gap of Four Years

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