• India and Pakistan have agreed to ease visa restrictions for businessmen to boost bilateral trade. Islamabad also assured New Delhi to move to a small negative list of imports from India by the end of this month. This negative list will be phased out by the year end culminating in the most favoured nation status to India.
  • The two countries also agreed to allow opening of two branches of their banks on reciprocal basis for which an understanding has been reached between Reserve bank of India and State Bank of Pakistan. New Delhi and Islamabad also signed three important pacts to improve their economic ties. 
  • The two countries signed agreements on cooperation in customs, mutual recognition of standards and for redressing trade grievances in the presence of Indian Commerce, Industry and Textiles Minister Anand Sharma and Pakistani Commerce and Trade Minister Makhdoom Amin Faheem in Islamabad last evening.
  • Visiting Commerce and Industry Minister Anand Sharma, who is leading an over 120 people-strong business delegation, told reporters in Islamabad that he has discussed the issue of visa liberalisation with Home Minister. He said the two countries will completely revise the existing bilateral visa agreement that was signed in 1974 to facilitate travel by businessmen from both the countries.