India and Pakistan have decided to accelerate the improvement in trade relations and the officials from both the countries have worked hard to strengthen trade ties in the bilateral talks.

On Wednesday, India said that it has agreed to improve cement import from Pakistan and Pakistan intended to boost import of tea from India. According to the joint statement released by both countries, Pakistan also requested for providing duty concessions on Pakistan’s export commodity to India.

Further, there was also a declaration to work with cooperation on using geographical indication for Basmati to check against patenting.

Earlier, the outcome of the secretary-level talks between commerce secretary G K Pillai and Pakistani minister Syed Asif Shah was about to go in dark when Pakistan had questioned India’s claim on Super Basmati Rice.

Pakistan had said that they have developed Super Basmati and India had no right to export it under their own brand.

In the middle of the little tension, a general sense of bonhomie was also there showing few signs of actual progress in the bilateral talks. Diplomats from both countries were looking intended to make sure to grow the bilateral trade five-fold to $10 billion by 2010.

Now, Indian banks (State Bank of India and Bank of India) and Pakistani banks (United Bank and National Bank) would be allowed to open branches across the border till December 31, 2007 to start operations in both the countries.

Read