February 29, 2012 5:08 PM

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Pak to introduce negative list regime for trade with India

Pakistan on Wednesday unanimously approved a proposal to switch over to a negative list regime for trade with India .It said that the list will be phased out by the year end as part of measures to fully normalise bilateral economic ties.

A meeting of the Cabinet chaired by Prime Minister Yousuf Raza Gilani unanimously approved the phasing out of the negative list” regime between Pakistan and India by December, said a brief statement issued by the Premier's office. The move will allow Pakistan to import some 6,800 items from India.

Pakistan currently allows the import from India of a little more than 1,950 items that are included in a positive list.

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