Representatives from India and Pakistani have signed agreements between the two countries to boost trade and commerce between the two neighboring countries.

The commerce secretaries of the two countries met in Islamabad and finalized agreements to give a major boost to trade between the two countries on 21 September. Experts in both the countries believe that a strong economic relationship between India and Pakistan will be instrumental in resolving long standing issues between south Asian countries.

The representatives ironed out differences for hours and were able to reach an agreement on various issues. The two sides signed three pacts including, redressal of trade grievances agreement, mutual recognition agreement and customs cooperation agreement

A joint statement read, "Both sides expressed satisfaction on signing of the three agreements, redressal of trade grievances agreement, mutual recognition agreement and customs cooperation agreement--and directed the relevant authorities to frame rules and procedures to fully implement these agreements. These agreements are expected to substantially facilitate bilateral trade mechanisms."

Besides looking at ways to boost trade and ease transit through land borders, the two sides also discussed options to improve railways and air connectivity to boost investments between the two countries.

Pakistan is expected to grant the Most Favoured Nation (MFN) status to India by the end of the year in order to improve its trade relations with the thirds largest economy in Asia.