Pakistan should grant MFN status to India: FPCCI President
India granted Most Favoured Nation status to Pakistan in 1996, but Pakistan is yet to reciprocate.
President SAARC Chamber of Commerce and Industry, Senior Executive Committee member of FICCI Vikramjit Singh Sahney (L) welcomes FPCCI President Zubair Ahmed Malik. PHOTO: AFP
NEW DEHLI:
Pakistan should grant Most Favoured Nation (MFN) status to India, said Federation of Pakistani Chambers of Commerce and Industry (FPCCI) President Zubair Ahmed Malik at a trade event, Zee News reported on Friday.
Malik is in India as the head of a Pakistani business delegation participating in the India International Trade Fair. While attending an event organised by the Federation of Indian Chambers of Commerce and Industry (FICCI), he emphasised the need for the two countries to ease visa restrictions.
"MFN status must be given to India. This is what I am urging our government. We want to see trade flourish between the two countries and it will only flourish if there is free movement of people and if the visa regime is eased by both governments," Malik was quoted as saying.
India had already granted Pakistan MFN status in 1996 but Pakistan is yet to reciprocate the measure even though according to World Trade Organisation (WTO) norms, member countries are required to provide this status on a reciprocal basis.
Additionally, the Pakistani government has missed the December 31, 2012 deadline for phasing out its negative list regime for trade and to grant MFN status to India.
The deadline was missed as some business sectors in Pakistan raised concerns about awarding MFN status to India, Naeem Anwar, Minister (Trade) was quoted as saying by Zee News.
However, Anwar too stated that the elimination of the negative list regime would help improve economic ties between the two countries.
"If Pakistan grants non-discriminatory access to India, India will provide a reciprocal market access to Pakistan at a 0-5% duty rate, similar to what is being given to Bangladesh," India’s Joint Secretary in the Commerce Ministry Arvind Mehta said at the FCCI event, reported IANS.
Pakistan is losing out to Bangladesh by delaying granting non-discriminatory access to India, Mehta pointed out.
Pakistan should grant Most Favoured Nation (MFN) status to India, said Federation of Pakistani Chambers of Commerce and Industry (FPCCI) President Zubair Ahmed Malik at a trade event, Zee News reported on Friday.
Malik is in India as the head of a Pakistani business delegation participating in the India International Trade Fair. While attending an event organised by the Federation of Indian Chambers of Commerce and Industry (FICCI), he emphasised the need for the two countries to ease visa restrictions.
"MFN status must be given to India. This is what I am urging our government. We want to see trade flourish between the two countries and it will only flourish if there is free movement of people and if the visa regime is eased by both governments," Malik was quoted as saying.
India had already granted Pakistan MFN status in 1996 but Pakistan is yet to reciprocate the measure even though according to World Trade Organisation (WTO) norms, member countries are required to provide this status on a reciprocal basis.
Additionally, the Pakistani government has missed the December 31, 2012 deadline for phasing out its negative list regime for trade and to grant MFN status to India.
The deadline was missed as some business sectors in Pakistan raised concerns about awarding MFN status to India, Naeem Anwar, Minister (Trade) was quoted as saying by Zee News.
However, Anwar too stated that the elimination of the negative list regime would help improve economic ties between the two countries.
"If Pakistan grants non-discriminatory access to India, India will provide a reciprocal market access to Pakistan at a 0-5% duty rate, similar to what is being given to Bangladesh," India’s Joint Secretary in the Commerce Ministry Arvind Mehta said at the FCCI event, reported IANS.
Pakistan is losing out to Bangladesh by delaying granting non-discriminatory access to India, Mehta pointed out.