'Most Favoured Nation' status won't allow Indians to export everything to Pakistan

Lahore, May 4 (ANI): Speakers at a Trade Development Authority Of Pakistan ( TDAP) seminar have stressed the need for expanding trade relations between India and Pakistan, as it would benefit both the countries.

They said India has not imposed any Pakistan-specific trade restrictions and it has a uniform trade policy about quality and certification for all countries, allowing Pakistan traders to compete with India.

Dr Manzoor Ahmed, former ambassador of Pakistan to (WTO) Geneva said India-Pakistan trade is a win-win situation. India has a middle class of about 300 million people with rising purchasing power and just 10pc penetration into the Indian market would double the market size for Pakistan, he said. All studies on India-Pak trade have so far demonstrated that the relaxation of constraints in the way of trade would benefit both countries.

"Granting Most Favoured Nation status to India will benefit both countries as the businessmen of the two countries will find greater chance to explore opportunities and boost their businesses. Some misconceptions associated with the MFN have made the whole issue disputable which should be clarified to dispel the fears of business community," The Nation quoted Ahmed, as saying.

He said MFN status would not allow Indians to export everything to Pakistan. Moreover, authorities of the two countries are seriously working to save local industry from any adverse impact.

He added that Pakistan should expand trading relations with China and India, which are projected to be the two fastest growing economies of the world over the next several decades, and penetrate their markets.

Chairman of the LCCI Standing Committee for Promotion of Pak-India Trade Aftab Ahmed Vohra said the decision to open another Pak-India trade route at Wahga was the need of the hour and would further strengthen trade relations between the two countries.

He said that India should dismantle barriers, and expedite efforts to address genuine concerns of the business community to realise dream of peace and prosperity through economic cooperation. (ANI)