NEW DELHI:
Bilateral trade between India and Pakistan has declined by about 30% to $1.56 billion during April 2011 and January 2012, according to the Press Trust of India.
During the same period of 2010-11, the bilateral trade was $2.22 billion, India’s Commerce and Industry Minister of State Jyotiraditya Scindia said in a written reply to India’s lower house of parliament Lok Sabha.
He added that as a result of the bilateral discussions held over the past year between the two countries, Pakistan has replaced its ‘positive list’ comprising 1,963 items that can be exported to India with a ‘negative list’ of 1,209 items that are restricted.
“This implies that except for these 1,209 items, all other items can be exported. Such substantial increase in tradable commodities is expected to reduce trade through third countries,” Scindia said.
On the other hand, South India’s tea export to Pakistan has reached 23 million kilograms (kg) last year and the figure is expected to rise to 50 million kg in a few years time, United Planters Association of South India (UPASI) said.
According to UPASI opening the trade gates of the Wagah-Attari border will provide an ideal route for tea export to Pakistan besides saving considerable amount of time and will boost India’s exports to its neighbour.
A decision on opening the Wagah-Attari border should be made at the country’s policy level and a functional South Asian association for regional cooperation (Saarc) preferential trade agreement will bring positive changes to Indo-Pak bilateral ties and trade, the association added.
Published in The Express Tribune, May 22nd, 2012.
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WE DRINKING anna tea..