Islamabad: Pakistan says it has decided to normalise trade relations with its giant rival and neighbor India.
Information Minister Firdous Ashiq Awan says the Cabinet on Wednesday approved a decision to give India the status of the "Most Favoured Nation."
The move is hailed as a positive first step in normalising diplomatic and other links with India.
The two nuclear-armed countries have fought three wars since they were created in 1947.
Granting the most-favoured status means the two countries can now trade on equal terms, typically giving each other low tariffs and high import quotas.
Information Minister Firdous Ashiq Awan says the Cabinet on Wednesday approved a decision to give India the status of the "Most Favoured Nation."
The move is hailed as a positive first step in normalising diplomatic and other links with India.
Granting the most-favoured status means the two countries can now trade on equal terms, typically giving each other low tariffs and high import quotas.
Advertisement
COMMENTS
Advertisement
PM Modi Chairs Meet On Line Of Control, Big Announcement Likely PM Narendra Modi's Meet To Review Most Favoured Nation Status To Pak Postponed PM Narendra Modi Chairs Meet On Line of Control, Big Announcement Likely: 10 Facts World's Largest Isolated Tribe Makes Rare Appearance In New Footage Puja Khedkar's Mother Was Hiding In Lodge As "Indubai" Using Fake ID At Least 2 Passengers Die As Chandigarh-Dibrugarh Express Derails In UP Infosys Posts 7% Increase In Q1 Net Profit At Rs 6,386 Crore Watch: Rescue Teams Crawl Through Derailed Coaches Looking For Survivors Delhi Court Refers BRS leader K Kavitha To AIIMS For Medical Check-Up Track Latest News Live on NDTV.com and get news updates from India and around the world.