Pakistan has eulogized a recent Pak-Indian joint statement for pushing forward the peace process between the two arch-rivals.

The Nation newspaper Thursday quoted Masood Khan, the foreign office spokesman, as saying that the statement, issued Wednesday by the two foreign ministers at the conclusion of a two-day meeting in New Delhi, is "very significant."

"It completes a cycle, which started in January this year," said the spokesman, referring to the dialogue initiation by the two leaderships in that month.

The official said the statement specifies the way forward and expressed the confidence that the two nations through the dialogue will be able to resolve all outstanding issues including the Kashmir dispute.

The statement also urged that high-level contacts between the two countries should be maintained, the spokesman noted.

Pakistan and India, the two nuclear neighbors in South Asia, have fought three wars in history, two of which were over the mountainous Kashmir region.