LOC tension have not affected Indo-Pak bilateral trade ties

India on Wednesday said that tension along the Line of Control (LOC) in disputed Kashmir with Pakistan has not affected the Indo-Pak trade ties. Indian Minister of Commerce and Industry Dr. D. Purandeswar said the bilateral trade between India and Pakistan in 2012-2013 so far has reached USD 2351.09 million. "Incidents on the Line of Control in the past few months have not affected bilateral trade between India and Pakistan," Purandeswar told the Indian parliament. He noted the trade this year with Pakistan was more than it was 2011-2012 which stood at USD 1942.76 million. LOC is a de-facto border dividing Kashmir into Indian and Pakistani parts. The ministry of commerce revealed the details when the tensions are already high between the two countries on LOC in disputed Kashmir. Both countries are leveling allegations and counter allegations against each other for violating the ceasefire. The ties between India and Pakistan dipped a new low on August 6 over the killing of five Indian soldiers along the disputed Kashmir border. India accused Pakistani Pakistan Army for killing of soldiers, a statement vehemently denied by Pakistan. The minister said that bilateral trade dialogue with Pakistan was re-initiated on different levels commencing from 2011. "Both sides have made considerable progress in improving bilateral trade ties," Purandeswar said. He said Pakistan has moved from a "Positive List" regime to a "Negative List regime", which substantially has increased the tradable items with India. "India has similarly liberalized its earlier restrictions on inward/outward investment flows to Pakistan. Both sides also agreed on a detailed roadmap for Preferential Trading Arrangements under the SAFTA (South Asia Free Trade Area) process," Purandeswar said.