"Pakistan should not adopt defensive economic policies and ask India to remove Pakistan-centric non-tariff measures," says Dr Mahmood. PHOTO: FILE
ISLAMABAD:
Scholars at a seminar on Wednesday were of the view that Pakistan should grant the most favoured nation (MFN) status to India considering that it is signatory to the World Trade Organisation trade agreement.
They also discussed the benefits and impediments of bilateral trade for Pak-India relations at a seminar, “Pakistan-India Trade Cooperation: Challenges and Opportunities” on Wednesday.
Dr Kamal Monnoo, member of the Islamabad Policy Research Institute (IPRI) Board of Governors and an economics scholar, said that trade liberalisation would speed up normalisation. “Granting MFN status to India was not a favour but a requisite.” He added that cheap consumer imports from India could help tame inflation at home. “You can choose your partner but not your neighbours.”
He discussed three key agreements signed by two countries last September to remove three non-tariff barriers, the Customs Cooperation Agreement, to avoid arbitrary stoppages of goods at each other’s ports and facilitate bilateral trade, the Mutual Recognition Agreement i-e is for acceptance of certificates of internationally accredited laboratories and seek harmonisation in each other’s standards and certifications and the Redressal of Grievances Agreement for resolving matters in case of disagreement.
Dr Monnoo stated that economic interdependence of bilateral trade relations between Pakistan and India would not only be beneficial for the countries’ economies but also expedite steps towards peace.
Dr Zafar Mahmood from PIDE, Quaid-i-Azam University, added that Pakistan and India enjoyed MFN status from 1948 to 1965. The status, he said, would be beneficial for Pakistan in revenue generation, improved competitiveness, FDI inflows, BOP improvement and surge in intra-industry trade.
Dr Mahmood said Pakistan should not adopt defensive economic policies and ask India to remove Pakistan-centric non-tariff measures. “Pakistan can use India as a bargain chip to counter in trade with other states.”
He concluded that bilateral trade relations by entering into a trade cooperation agreement with India would help in expanding the existing industrial strength of Pakistan.
The event was held by IPRI.
Published in The Express Tribune, January 31st, 2013.
COMMENTS (6)
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ
@antony:@Riaz,Why do you want to think like Suicide bomber ..Try to live with what you have and develop your side of kashmir to great heights and prove to the world what you have done with what you have got! In fact we want relations and comradeship with India on bilateral level and unfortunately India wants to become "thanedar" in South East Asia and wants its complete hold in South East Asia and doesn't want to resolve Kashmir issue and still has been falsely and untruly declaring Kashmir as its integral part and wants to accept all the proposals for resolving all the issues between Pakistan and India except Kashmir and under these conditions only PPP's Pakistani leaders can declare India as the Most Favorite Nation by selling remaining/left theirs',Pakistan's and Pakistani nation's honor,grace,dignity,self-respect and ego not the Pakistani nation because in Pakistani nation's truly and strongly believes that Kashmir issue's resolution is the only key/way of successful,true,stable,durable,strong and permanent comradeship between Pakistan and India....
One more war initiated by Pakistan and we shall see to it that it no longer exists.
@Riaz, Why do you want to think like Suicide bomber ..Try to live with what you have and develop your side of kashmir to great heights and prove to the world what you have done with what you have got!
@Riaz: I agree with you totally and because basically and actually PPP's leaders are going to sell theirs,Pakistan's and Pakistani nation's remaining/left ego,honor,grace,dignity and self-respect by declaring India as the Most Favorite Nation by knowing all the facts,realities and inner intentions of India regarding Pakistan which have been seen in the past and have been seeing now-a-days....
@Riaz: You do know that Pakistan has already tried using military force to give Kashmiris "much needed freedom", as you call it, a couple of times and has been unsuccessful?
Stop selling our country to these people. The govt is running away from solving the core issue of Kashmir,Until and unless that is solved real peace will not be achieved.
I still back use of military force to give Kashimiris the much needed freedom.
When wil be use them ?