Sharif for better ties with India to improve trade

Pakistan Prime Minister Nawaz Sharif on Thursday said normalisation of ties with India and restoration of the bilateral composite dialogue could give a big boost to the trade relations between the countries.

"With India once we are able to normalise the relations and restore the composite dialogue, there is huge potential for bilateral cooperation on trade and other areas," Sharif said here at the WEF Annual Meeting.

The resumption of talks between the two countries took a hit after the recent terror attacks in Pathankot.

Speaking about various industrial projects being set up in Pakistan and in the region at a session on transforming South Asia, Sharif said, "TAPI is a gas pipeline which is now being laid from Turkmenistan to India, that will also meet a significant requirement of gas in Pakistan.

"There are various other projects that will help the countries in the region including the domestic market. Both Pakistan and Afghanistan are trying to establish peace in Afghanistan," he said.

Asked what is his outlook for the next one year on economic front, Sharif said, "We will come to know when we cross the bridge".

Sharif said the government has a lot of money due to oil price decline, although it had benefited hugely from the low prices in terms of decline in the electricity prices and other factors. "We have passed on the benefits to the people of the country."

"Generally people are very happy. In many ways it has helped us, but in some ways there has been some negative also," he said.

In Islamabad, Foreign Office (FO) spokesman Qazi Khalilullah said, "The Foreign Secretary-level talks between Pakistan and India are going to be held in near future and both sides are in touch on that count."