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Kashmir solution can boost Indo-Pak trade: Aziz

The economic ties between India and Pakistan could be improved only if Kashmir issue is resolved between the two countries, Pakistan's Finance Minister Shaukat Aziz has said, but hoped that the forthcoming Indo-Pak summit could boost bilateral cooperation.

Kashmir is the core issue and any progress for resolving this issue will develop a peaceful atmosphere in the region, "only then economic ties can be promoted between the countries," he said.

He however hoped the forthcoming Musharraf-Vajpayee summit will pave the way for promotion of bilateral co-operation between the two countries.

Aziz said there is a lot of potential in South Asia and regional trade blocs are being established everywhere in the world.

Hence, "there is no reason that such blocs cannot be established in our region," he said in an interview to Voice of Germany in Islamabad.

Aziz's scepticism about improving economic and trade ties between two countries without resolving the Kashmir issue is seen here as an indication that Pakistan may not grant the much needed most favoured nation treatment to India during President Pervez Musharraf's visit to India.

Even though India granted the MFN status several years ago to Pakistan under the spirit of SAARC Charter, Pakistan has not granted the same.

Instead Pakistan permitted 600 items to be traded between two countries. The annual trade between the two countries amounted to $250 million, while trade organisations estimated that the unofficial trade being done through third countries amounted to $1 billion.

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