India forms new SA trade bloc sans Pak

[Neo]

India forms new SA trade bloc sans Pak

ISLAMABAD (ANI) — In what is being described as a success for India and a "failure and punishment for Pakistan" on the economic diplomacy front, India has formed a regional trading bloc excluding Islamabad, and including all the SAFTA members, besides Thailand.

India quietly created the new trading bloc to "punish" Pakistan for not coming forth positively on trade under the South Asia Free Trade Agreement (SAFTA), said a senior Pakistani government official here last evening.

He added that after Islamabad denied New Delhi an equal treatment in trade under SAFTA, India discreetly managed to create another regional trading bloc in South Asia comprising Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand.

Six SAARC countries - Bangladesh, Bhutan, India, Nepal, the Maldives and Sri Lanka - are included as members while Pakistan has been left out of the bloc which is being termed success of India and "failure of Pakistan" on the economic diplomacy front, The News quoted the unidentified official as saying.

The regional trading bloc - BIMST-EC (Bangladesh, India, Myanmar, Sri Lanka, Thailand Economic Cooperation) - also includes Bhutan, Nepal and the Maldives.

According to the documents available with The News, the eight countries have also signed the framework agreement for a BIMST-EC free trade area.

According to the paper, ironically enough, Pakistan's economic managers are not aware of the shocking developments, and some officials of the Ministry of Commerce, particularly Joint Secretary of FT Wing Shahid Bashir, are paying no heed to it. Bashir, who is responsible for FTAs and PTAs with other countries and regional bloc, according to the official, seems not worried about Pakistan's exclusion from the BIMST-EC saying it would not affect the country.

When contacted, Commerce Secretary Syed Asif Shah said he didn't know about the development, so he is unable to offer any comment on the issue. Asked as to why Pakistan has not become a member of the new regional trading bloc, he said he didn't know. He said: "Trade under Safta has virtually come to a standstill as Pakistan is not extending the tariff concessions to India that it is extending to other countries. This has led India to come up with the new trading bloc."

http://www.tehrantimes.com/Description.asp?Da=12/26/2006&Cat=9&Num=15

 

[john_holmes]

It is Pakistan which is holding SAARC and SAFTA hostage with associating Kashmir to the talks. Good move by the babus by avoiding the problem and dealing with the neighbours on a one to one basis.

 

[Awesome]

Haha but India would never get what it so desires! Access to Afghanistan

Pakistan is not the one not implementing the UN resolutions and conducting plebiscite in Kashmir. Despite that SAFTA has been conducting business as usual ever since the peace process began.The only difference being that Pak wasn't giving any special treatment to India. Which being an adversary it has not yet earned.

 

[john_holmes]

Sad that you are proud of being an obstacle to the progress of south asia. Helping Afghans would have gone a long way in alleviating poverty and bringing stability to the poor country.

 

[Awesome]

Pakistan comes first. Afghanistan is getting enough aid from the ENTIRE WORLD through us. We just just don't allow India for other than aid, they'd trade with CAR.

 

[john_holmes]

We all know that Asim. We are using the Chahbahar port with Iran to provide Aid to Northern Alliance. We will get by.

Obstacles are nothing but disguised opportunities.

 

[Contrarian]

Great move by India. Trade had stopped in SAFTA. Now there can be a FTA with other countries. India will not stop its growth.