Seminar: Scholars for MFN status for India
Pak-India trade benefits to go beyond economic benefits.
"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.
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.