Friday, May 27 2005 16:26 Hrs (IST) - World Time -

Lahore: Asserting that the establishment of the Indo-Iran gas pipeline through Pakistan would possibly be the most significant economic Confidence Building Measure (CBM), Islamabad has agreed to guarantee security for the proposed project and also favoured extending another pipeline to India.

"The establishment of an energy corridor, which would run from Iran to India through Pakistan, will possibly be the most significant economic confidence-building measure," Foreign Minister Khurshid Mahmud Kasuri told a visiting Federation of Indian Chamber of Commerce and Industry (FICCI) delegation in Lahore.

He said that Pakistan has promised not to interfere in gas delivery to India and has also agreed to guarantee security for the project.

"The proposed Turkmenistan-Pakistan pipeline could be extended to India and China, linking the whole vast region in an energy network which would also have a profound impact on the region," Kasuri said.

On the demand by Indian businessmen for grant of multi-point entry visa by Pakistan, he said that he would take up the matter with the Pakistan Interior Ministry and asked the entrepreneurs to exert their influence for issuance of the same on the lines of those given to journalists.

Accusing India of using discriminatory measures against Pakistani textile products, he said bilateral trade has been affected by restrictions on trade, policy impediments and uncertain political situations.

Kasuri also sought acceptance of Pakistani quality certification on food and agricultural products and bringing down of import duties equivalent to those of Pakistan.

"In order to improve the bilateral trade, business and economic relations between Pakistan and India, the two countries have to devise a mutually beneficial framework which should address the business interests of both sides," he said.

However, Kasuri said that he was happy to note that Indian, Pakistani and Bangladeshi entrepreneurs were increasingly developing regional strategies, and urged the international community to facilitate and encourage "and not impede and discourage" this development for a prosperous South Asia.

Noting that South Asia faced the challenges of economic development, illiteracy and diseases, Kasuri said, "We have a great responsibility to channel all our energies and resources for the betterment of our people who constitute one-fifth of the population of our planet."

"(Pakistan) Government's policy of according high priority to the promotion of peace and security in and around Pakistan stems from our conviction that a peaceful and secure environment internally, regionally as well as globally would positively contribute towards economic growth and development, which would lead to reduction in poverty and help to enhance the welfare of our people," he said.

He said that Indian and Pakistani Governments can create conditions of peace and security leading to stability in South Asia and thus serve the poverty-stricken people of the region.

"Pakistan is a part of four concentric geographical regions, South Asia, Central Asia, West Asia and the Middle East. We want to work with the countries of these regions to turn this land into an arc of opportunity," the Pakistan Foreign Minister said.