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Pakistan's most favoured nation status for India
In a big break with the past, the Pakistan government has expressed its readiness to grant the most favoured nation status to India in a couple of months after getting a green signal from all stakeholders.
According to Pakistani media reports in Islamabad on Monday, the countrys commerce ministry, as a first step, has sent a summary to all stakeholders, seeking their comments on changing the decades-old trade regime with India. If no objection is raised, the summary will be sent to the federal cabinet for a final approval.
The environment to grant MFN status to Indian turned favourable in the wake of the recent tensions in Pakistans ties with its top trading partner, the United States. Pakistans exports at an estimated $4 billion in 2010-11 make the US the only country with which it enjoy surplus.
Experts say granting MFN status to India will not only reduce tensions between the two countries but also earn support from India at a time when the US has accused Pakistan of having links with the Haqqani network of Afghanistan.
While the government appears to have put aside some crucial issues, including Kashmir, that have marred economic relation between the two countries, it has made the MFN decision conditional to the removal of non-tariff barriers by India.
Pakistan's most favoured nation status for India - India - DNA
In a big break with the past, the Pakistan government has expressed its readiness to grant the most favoured nation status to India in a couple of months after getting a green signal from all stakeholders.
According to Pakistani media reports in Islamabad on Monday, the countrys commerce ministry, as a first step, has sent a summary to all stakeholders, seeking their comments on changing the decades-old trade regime with India. If no objection is raised, the summary will be sent to the federal cabinet for a final approval.
The environment to grant MFN status to Indian turned favourable in the wake of the recent tensions in Pakistans ties with its top trading partner, the United States. Pakistans exports at an estimated $4 billion in 2010-11 make the US the only country with which it enjoy surplus.
Experts say granting MFN status to India will not only reduce tensions between the two countries but also earn support from India at a time when the US has accused Pakistan of having links with the Haqqani network of Afghanistan.
While the government appears to have put aside some crucial issues, including Kashmir, that have marred economic relation between the two countries, it has made the MFN decision conditional to the removal of non-tariff barriers by India.
Pakistan's most favoured nation status for India - India - DNA