http://tribune.com.pk/story/158452/pakistan-refuses-mfn-status-to-india/
BHURBAN: Pakistan refused to grant Most Favoured Nation (MFN) status to India, but agreed to enhance the positive list of goods, as trade talks between the two countries concluded on Thursday.
Earlier, Pakistans commerce secretary Zafar Mahmood had stated that not granting India Most Favoured Nation (MFN) status constituted a non-tariff barrier to trade. The statement came after reports that Pakistan was willing to consider offering MFN status to India in exchange for a removal of non-tariff barriers to trade by New Delhi on goods to Pakistan.
Talks between India and Pakistan commerce secretaries come to an end in Bhurban, with Mahmood and his Indian counterpart Rahul Khullar leading the talks for their respective sides.
India and Pakistan have decided to devise a plan for the joint registration of varieties of rice grown in both countries. Pakistan has also agreed to import tea from India by rail.
Both countries have also agreed to continue trade dialogues in the future, with the next round to be held in India.
The expansion of trade via road and rail, and the issuing of business visas was also discussed during the meeting.
India has also offered Pakistan to host Made in Pakistan exhibitions in the country.
Both sides also expressed satisfaction over the progress of Optical Fibre being laid between India and Pakistan.
The details of the talks will be officially released at a joint-news conference by the two sides.
Bilateral trade between India and Pakistan is heavily skewed in Indias favour. Of the total $1.5 billion in trade between the two countries, nearly $1.2 billion are Indian exports to Pakistan, making Pakistans trade deficit with India close to $900 million a year. Informal trade, however, is estimated to be between $2 billion and $2.5 billion, leaving most economists to believe that trade between India and Pakistan would skyrocket upon the removal of trade barriers.
BHURBAN: Pakistan refused to grant Most Favoured Nation (MFN) status to India, but agreed to enhance the positive list of goods, as trade talks between the two countries concluded on Thursday.
Earlier, Pakistans commerce secretary Zafar Mahmood had stated that not granting India Most Favoured Nation (MFN) status constituted a non-tariff barrier to trade. The statement came after reports that Pakistan was willing to consider offering MFN status to India in exchange for a removal of non-tariff barriers to trade by New Delhi on goods to Pakistan.
Talks between India and Pakistan commerce secretaries come to an end in Bhurban, with Mahmood and his Indian counterpart Rahul Khullar leading the talks for their respective sides.
India and Pakistan have decided to devise a plan for the joint registration of varieties of rice grown in both countries. Pakistan has also agreed to import tea from India by rail.
Both countries have also agreed to continue trade dialogues in the future, with the next round to be held in India.
The expansion of trade via road and rail, and the issuing of business visas was also discussed during the meeting.
India has also offered Pakistan to host Made in Pakistan exhibitions in the country.
Both sides also expressed satisfaction over the progress of Optical Fibre being laid between India and Pakistan.
The details of the talks will be officially released at a joint-news conference by the two sides.
Bilateral trade between India and Pakistan is heavily skewed in Indias favour. Of the total $1.5 billion in trade between the two countries, nearly $1.2 billion are Indian exports to Pakistan, making Pakistans trade deficit with India close to $900 million a year. Informal trade, however, is estimated to be between $2 billion and $2.5 billion, leaving most economists to believe that trade between India and Pakistan would skyrocket upon the removal of trade barriers.
