Most favoured nation: Pakistan likely to grant India MFN status
Commerce Minister Makhdoom Amin Fahim is expected to visit New Delhi in mid-September for talks with his Indian counterpart Anand Sharma.
Sources told India Asian News Service (IANS) on Wednesday that ahead of Fahim’s visit, the joint secretaries (commerce) of India and Pakistan would hold a meeting in the Indian capital. Pakistan’s Joint Secretary (Commerce) Rubina Ather is in New Delhi now, leading a six-member delegation which consists of trade officials.
Besides the likelihood of India getting the MFN status, the two sides will also discuss the possibility of India allowing Pakistan foreign direct investment, the sources said. The MFN status for India will be critical in expanding the untapped trade potential between the two countries, they said.
India-Pakistan trade was $1.85 billion in 2009-10. Indian exports accounted for $1.78 billion.
Published in The Express Tribune, August 25th, 2011.
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Give MFN to India right now. We need trade. Pakistan Business Council (PBC), a group of over 35 leading multinationals have asked Pakistan govt to trade with India which will increase our annual GDP growth rate from 1 to 2 per cent at least.
Our present GDP growth is less than 4 per cent, imagine going with over 8 per cent GDP growth like India, we both countries will benefit a lot from this trade.
How: Please see:
1) Both countries reduce their import costs as they import from Europe and USA. 2) Learn from each others experiences in industrial and services sectors. 3) Pakistan can export to Bangladesh, Thailand and beyond, India can gain much needed access to Central Asia. 4) Pakistan can import cheap machinery from India and import cheap raw material from indian Pharmaceutical sector. 5) India can gain access to Iran, Middle East and Europe through road and sea links.
In short, both would benefit enormously and both economies get a boost that ultimately help our people.
Trade between Pakistan and India could start a new era of good political relation. Land and country are usually spelled in political and military terms; although, there are other forms of nationhood for example, people free movement across the border and trade as in the case of EU. India has achieved maturity in industrial life cycle while Pakistan is still struggling for its own. Trade and business relation might benefit India for shorter period, but in long run it would be Pakistan reaping its benefit. Rather Pakistan and India should start joint industrial ventures with more trades to Central Asian Nations and Afghanistan. Their is a need of cooperation between the two countries rather competition.
@gp65: I don't recall India demanding or requesting this MFN status from Pakistan !!! On what grounds do you think that Pakistan would have qualified for such a status with EU or rest of the World??? Your Natural Disaster were not really an criteria for such qualification, and there are far more Nations more worthy to demand such exemptions than a Nuclear State like Pakistan !!! Get the point?? {erhaps not !
hey guys there is one more meaning too for the word MFN...........................
Long Over Due!
@Bakwas: India has already give Pakistan MFN status. If Pakistan wants to be member of WTO, it has no choice but to give India MFN status. This is one of the conditions. Anyway Pakistan can benefit more from it than India because its Industry gets access to much bigger market. ( Ask your cement Industry)
Good move!
this decision, if taken, will be good for both countries. increasing trade has a potential to bring stability in relationship. it is not a single factor but biggest of all factors. we can learn from integration of europe which started from trade integration only and will be sustained by economic integration. Greater india-pakistan trade can only give a real and much needed meaning to SAARC. one who really want integration of people of south asia like european union this is a good news for them. FOR those who fear from this for the reason that it will ruin pakistan industries, i wish to suggest it depends on how pakistani leaders will manage Economic policy like indian leaders. india china trade in 2010 was 61.7 billion dollar. india imported goods worth of about 40 billion dollar and exported goods worth of only 20 billion dollar. india trade deficit with china stood at 20 billion dollar,which is projected to go up to 25 billion dollar. ONE has to move and take big challenge for strong future.
Pakistan will turn from somwhat industrial nation to a trading nation. Consumers will benifit by having cheap Indian goods. Cost of doing business in Pakistan might go down if raw material is imported from India at a cheaper price. So there are good things, but there are bad things too.
We are buying from China, why not from India?
bro this is a wise step frm pakistani awam...we need these kinds of CBM measures to mover forward togather both the country will be benifitted by it
@ex hindu: You have'nt got any Industries left to over power!!! In regards to your economy, well even my 12 yrs old son has more commonsense, than to even compare the economy of these two nations !!!! Your Industrial base has been virtually destroyed, due to cheap imports from China, lack of energy and being able to produce at competative level !!!! But you are right, that India too does not really need any favours or trade with Pakistan, as India does have markets globally and domestically too !!!
If Pakistan is on the way to grant India the status of a Most Favoured Nation, it will be in the larger benefit of the Pakistani Awam. They will learn a lot from India in the filed of Education, Health and Medical, trade and commerce, Technology,Religion and culture and so on. It is a fact that India is most endurece and patience keeping country, and Pakistan should also take a lesson from it.
What? Whats wrong with this picture? It should be Pakistan that should be given the most favoured nations status and not India. Was it not India in the news that stopped Pakistan from getting the most favoured nations status?? This is a real nonsense news and shows lack of integrity. Pakistan need leaders with integrity!
no.Pakistan and India should not trade, the Indians want to take over our economy.Pakistani and Indian industries are the same,but the Indian will over power pakistani industry because they benefit from more economies of scale.No trade with India
Time to see who is better with Trade and Industry. As an Indian I cant wait to flood Pakistani markets.
Arre Bhaiyon aur Baheno.... Sure, it is an unequal trade now but equation will change as soon as Pakistan settles down to producing goods that we would buy in India. @Jamal Lughari, Please Do not equate the entire populations of India or Pakistan as "Terrorists". Most of us are simple, hard working people on both sides of the border. Right now Pakistani Industry is not able to do much because severe lack of Infrastructure and qualified people to run high-tech businesses. Pakistan should invest more in educating its citizens. Pakistanis are thinking and intelligent people driven into religious hysteria and hatred for everyone else (except China!) by the Media and Mullahs. A wind of hatred seems to be blowing across the border.
The granting of MFN status to India is a wise decision. Notwithstanding the hurdles created by the military-mullah axis - most of them in the guise of religion - a fair and just peace with India is critical to the future of the subcontinent.
Stop this Nonsense ... We don't need trade with them. No Trade with Terrorists. Zardari's Govt. Is US Puppet and they are doing this on their advice.. but most Pakistanis are not in favor of any trade relationships with India if we discover 2000 in one mass Grave in Kashmir. Stop trading with the terrorists.