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Pakistan ready to normalize trade with India.

Pakistan says it has decided to normalize 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 Favored Nation."

The move is hailed as a positive first step in normalizing diplomatic and other links with India.

The two nuclear-armed countries have fought three wars since they were created in 1947.

Granting the most-favored status means the two countries can now trade on equal terms, typically giving each other low tariffs and high import quotas.

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Publication:7 Days (Dubai, United Arab Emirates)
Geographic Code:9INDI
Date:Nov 2, 2011
Words:107
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