Recognising that economic engagement will help build mutual trust, India and Pakistan on Thursday agreed to initiate steps for trade of electricity and petroleum products between them. Official document released in New Delhi said that commerce secretaries of the two countries agreed on a slew of measures to realise the full potential of bilateral trade which at present is less than 2 billion dollars. These included recognition by Pakistan that grant of Most Favoured Nation, MFN status to India. It would help in expanding bilateral trade relations, they added The agreed minutes of the two-day talks held in New Delhi between India's Commerce Secretary Rahul Khullar and his Pakistani counterpart Zafar Mahmoood took 19 decisions in the two day talks.They include key areas like examining feasibility of cross-border trade in electricity and all types of petroleum products. They also expressed intent to explore the feasibility of entering into a preferential trade arrangement by extending tariff concessions on products of interests to both the neighbours. Recognising that facilitation of business visas was essential for expansion of trade, it was agreed that the private sector, through officially recognised joint chambers, would be involved in this regard.The last round of bilateral trade talks were held in August 2007. However, economic engagement went into a hiatus following terrorist attacks on Mumbai in November, 2008.