India wishes to see a prosperous Pakistan: Manmohan Singh
Singh terms trade talks with Amin Fahim 'constructive', pledges to increase trade volume.
NEW DELHI:
Indian Prime Minister Manmohan Singh on Monday said New Delhi wishes to see a stable and prosperous Pakistan.
(Read more: India, Pakistan push fragile ties with trade diplomacy)
The remarks came as the Indian premier met with Pakistani Commerce Minister Makhdoom Amin Fahim.
Fahim is on a five-day visit to India in a bid to promote trade between the two countries.
Singh termed the talks as constructive and backed efforts to increase trade volume to $6 billion in the next four years. Trade between the two currently stands at $2.7 billion.
Amin Fahim promised to lift trade barriers and claimed India will reciprocate by supporting Pakistan in the World Trade Organisation.
However, there has been no hint to whether Pakistan has assured New Delhi of granting it the Most Favoured Nation status.
Wasted potential
India and Pakistan may be home to some 1.4 billion people but bilateral trade flows are paltry.
The achievements are likely to be modest – from opening trading posts to stamping more business visas – but even small moves can improve frayed ties.
Irritants abound, trade across what is one of the world’s most heavily militarised borders is severely restricted both in the number of items that are permitted to be bought and sold, and the hours during which the customs are open for business.
Exporters are forced to route the bulk of trade via a third party such as Dubai, raising business costs, slowing deliveries and inflating prices. Business leaders on both sides bemoan the untapped potential of hundreds of millions of new customers.
Islamabad wants India to lower what it says are unfair barriers to trade, such as cumbersome approval procedures for exporters selling anything from cement to fruit and vegetables.
Another sore point is India’s continued opposition to a scheme proposed by the European Union to boost textile exports from areas of Pakistan ravaged by floods with duty waivers.
EU and Pakistani diplomats have said India could drop its veto against the scheme.
Indian Prime Minister Manmohan Singh on Monday said New Delhi wishes to see a stable and prosperous Pakistan.
(Read more: India, Pakistan push fragile ties with trade diplomacy)
The remarks came as the Indian premier met with Pakistani Commerce Minister Makhdoom Amin Fahim.
Fahim is on a five-day visit to India in a bid to promote trade between the two countries.
Singh termed the talks as constructive and backed efforts to increase trade volume to $6 billion in the next four years. Trade between the two currently stands at $2.7 billion.
Amin Fahim promised to lift trade barriers and claimed India will reciprocate by supporting Pakistan in the World Trade Organisation.
However, there has been no hint to whether Pakistan has assured New Delhi of granting it the Most Favoured Nation status.
Wasted potential
India and Pakistan may be home to some 1.4 billion people but bilateral trade flows are paltry.
The achievements are likely to be modest – from opening trading posts to stamping more business visas – but even small moves can improve frayed ties.
Irritants abound, trade across what is one of the world’s most heavily militarised borders is severely restricted both in the number of items that are permitted to be bought and sold, and the hours during which the customs are open for business.
Exporters are forced to route the bulk of trade via a third party such as Dubai, raising business costs, slowing deliveries and inflating prices. Business leaders on both sides bemoan the untapped potential of hundreds of millions of new customers.
Islamabad wants India to lower what it says are unfair barriers to trade, such as cumbersome approval procedures for exporters selling anything from cement to fruit and vegetables.
Another sore point is India’s continued opposition to a scheme proposed by the European Union to boost textile exports from areas of Pakistan ravaged by floods with duty waivers.
EU and Pakistani diplomats have said India could drop its veto against the scheme.