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The Government of Pakistan and the Government of Norway being desirous of promoting the trade between the two countries to the maximum extent possible, have to attain this object agreed as follows:

Consistent with the provisions of the General Agreement on Tariffs and Trade,^[2] both Governments confirm that within the currency groups there will be no territorial discrimination, and accordingly applications for licences for import of goods from one country into the other will be treated equally favourably by the two Governments as compared to any other country of the same currency group, in accordance with the licensing policy in force from time to time.

Commitments resulting from any bilateral agreements shall, however, be exempt from the operation of this article.

The two Governments are prepared to grant export licences, subject to availability, for goods and commodities that are in short supply in the other country, provided the goods or commodities in question are not banned for export from the producer country. Applications for licences to export to either country will be treated equally favourably by the two Governments as compared to such applications made for any other country of the same currency group, in accordance with the licensing policy in force from time to time.