A Protocol on Shipping has been already signed between two countries
The Union Minister of Shipping, Shri G.K. Vasan informed the Rajya Sabha in a written reply to a question that the a hotline communication link between Indian Coast Guard (ICG) and Pakistan Maritime Security Agency (PMSA) was set up in November, 2006.
Further, in the last Home Secretary level talks in March 2011 both sides agreed to task the ICG and PMSA to work on setting up a mechanism for release of inadvertent crossers (fishermen) and their boats on the same lines as the inadvertent crossers on land.
The Minister further stated that a Protocol on Shipping services was also signed in December, 2006 between India and Pakistan, in which it has been, inter-alia, agreed that if a vessel of either country be involved in maritime peril or encounters any other danger off the coast or in the ports of the other country, the vessel, the cargo, the crew and the passengers shall receive the same assistance which is accorded to a national vessel, its cargo, crew and passengers. This will be subject to the respective laws and international obligations of the two countries.
Source: Press Information Bureau, Government of India