The deduction of 'negative list' for trade with India was collectively approved by the federal cabinet this Thursday. This move is said to improve bilateral relations with India regarding economic grounds of both the countries.

The meeting chaired by Premire Pakistan Yusuf Raza Gilani, came to a decision to remove the negative list and provoke more business opportunities with our closest neighbor India.

India, on the other hand, has welcomed Pakistan's efforts to liberalise bilateral trade and said the move is a step towards positive relations between the two country.

While talking to media, Indian Foreign Minister SM Krishna said India welcomes Pakistan step to reduce negative trade list.

He said that he understood that Pakistan wanted India as the most favorite nation to do business with and the Pakistani FM Hina Rabbani Khar has reaffirmed him on that plenty of times.