MIRPUR (AJK) - The Jammu & Kashmir Joint Chamber of Commerce & Industry (JKJCCI), the only apex representative body of business fraternity from both sides of the Line of Control, appreciated the grant of Most Favoured Nation (MFN) status to India by Pakistan. "The decision of granting MFN status to New Delhi by Islamabad will not only strengthen the economic and trade ties between the two neighbouring nations but will also help in the resolution long-standing political issues between the two countries including the core issue of Kashmir", said JKJCCI President Zulfiqar Abbasi. Talking to reporters here the other day, he said that it was a very encouraging and unprecedented development, which, he added, would be beneficial for both of the countries to bring them closer to each other without the tension-free relations. India, Abbasi recalled, had already granted MFN status to Pakistan since past many years. He said that the matching response by Pakistan now to India giving the MFN status would lead to strengthen the bilateral relations between the two countries, he observed. The JKJCCI President said that his organisation fully welcomed the decision by Pakistani cabinet in its extra-ordinary meeting in Islamabad granting MFN status to India for the promotion of trade ties between the two countries. "The process of similar good gesture should be continued between the two countries. Abbasi further said that similar steps for promotion of people-to-people contact and trade relations between India and Pakistan would lead to removal of misunderstandings, which, he maintained, emerged due to the extra-ordinary restrictions and barriers in the bilateral linkage between the people of India and Pakistan. Zulfiqar Abbasi said that the MFN status would also help in to encourage and raise the volume of ongoing trans-LoC trade started in October 2008 between Azad Jammu & Kashmir and India occupied Jammu & Kashmir to benefit the business community of both sides of the LoC.