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India- Pakistan Trade Developments

What significant step???????? we are giving and obliging what pakistan doing for it?????????

Manmohan singh's age have taken over his brain he is a liberality on India he must be removed after UP election results in March.

Why so much negativity? What gets under your skin to post senseless stuff?
Our nations have been at logger heads for simply too long - if its not one issue its another. If our nations show intent to build bridges and show initiative then why does it eek you? Do you think Anand Sharma et all don't see mutual benefit for both parties in attempting to infuse trade links? India is not a charity and is obviously exploring for its own benefit.
I think all must be commended in making attempts to form ANY sort of links.
 
This is a good step for both the countries-

1. If we can have better trade we will have a contribution (however small) in improving Pak economy. This will generate good will and may convince that India doesn't have ill intentions.

2. It will help improve our economy (however small) and may take our relations from this acrimonious Indo-Pak relation to more like Indo-China, where we don't see eye to eye on every issue but we do business with each other.
 
India’s Bharti, Jet Join Pakistan Mission as Trade Curbs Eased

QBy Bibhudatta Pradhan - Feb 13, 2012 1:31 PM ET i
Business Exchange Buzz up! India’s latest business delegation to Pakistan includes executives from its leading wireless company and its largest domestic airline, as the nuclear-armed rivals seek to trade their way to closer relations.

Commerce Minister Anand Sharma is in Pakistan with more than 120 company officials in what India’s government says is the most substantive bilateral trade mission since both countries won independence from British colonial rule in 1947. Sharma will hold talks on Feb. 15 with his Pakistani counterpart Makhdoom Amin Fahim in Islamabad to review the progress in normalizing trade relations.

“This is a major step towards deepening economic engagement between India and Pakistan,” Sharma said at a press conference in New Delhi Feb. 12 before leaving for Pakistan. “We will discuss all aspects of economic engagement and it is our hope that by taking economic relations to a higher level we will be creating an environment of trust and confidence.”

India aims by 2015 to double commerce with its neighbor from $2.7 billion in the fiscal year that ended March 31. Pakistan in November granted India Most Favored Nation status, its biggest step to facilitate cross-border trade since peace talks stalled by the 2008 Mumbai attack resumed last year.

Among those traveling with Sharma during the three-day, three-city visit are Naresh Goyal, chairman of Jet Airways India Ltd. (JETIN), and Rajan Bharti Mittal, managing director at Bharti Enterprises Ltd., which partners Wal-Mart Stores Inc. (WMT) in India, according to the Federation of Indian Chambers of Commerce and Industry.

Sunil Kant Munjal, whose family controls Hero Motocorp Ltd., India’s biggest motorcycle company, is also part of the delegation, the Confederation of Indian Industry said in a separate statement in New Delhi.

Slowing Growth
“This is probably the largest ever trade delegation India has sent to Pakistan,” said Dipankar Banerjee, an analyst at the New Delhi-based Institute of Peace and Conflict Studies. While the trip will foster better relations, trade between the two nations won’t reach its potential “unless there is a major boost in infrastructure construction and removal of non-tariff barriers,” Banerjee said.

India’s government Feb. 7 predicted gross domestic product will rise 6.9 percent in the 12 months through March from a year earlier, the least since 2009 as the global recovery falters. The $1.7 trillion economy, Asia’s third largest, also faces pressure from budget and trade deficits, and policy gridlock inhibiting investment.

Pakistan’s $175 billion economy grew 2.4 percent in the year through June 2011, one of the smallest expansions in a decade, as floods, militant attacks and rolling power blackouts fueled price rises, drove out investment and closed factories.

‘Good Sign’
An $11.3 billion International Monetary Fund loan to Pakistan expired in September, with disbursements suspended in May 2010 after the country failed to meet conditions attached to it. The lender forecasts Pakistan’s GDP will rise 3.4 percent in this fiscal year.

The nuclear-armed rivals, which have fought three wars, agreed last year to broaden the number of goods that can be traded between the two countries and to grant more business visas as they move toward normalizing economic ties. They vowed to dismantle tariffs on about 8,000 items by the end of this year, with all restrictions being lifted by 2013.

The display of Indian interest in boosting economic ties is a “good sign,” said Khalid Tawab, vice president of the Federation of Pakistan Chambers of Commerce & Industry. The volume of trade that is routed through third countries should fall, Tawab said.

In Lahore, the Indian delegation attended a trade fair where 400 Indian manufacturers are showcasing products ranging from jewelry and cosmetics to auto parts.

Kashmir Trade
Wide-ranging negotiations to improve relations resumed in February, after a more than two-year break following the terrorist attack on Mumbai by 10 Pakistani militants. India says it’s continuing to press Pakistan to dismantle guerrilla groups based on its soil and targeting India.

Trade between India and Pakistan has been hampered by six decades of distrust and hostility since the two nations gained independence. The countries have twice gone to war over their conflicting claims to the territory of Kashmir.

The two countries agreed in July to expand trade and travel between the parts of Kashmir they control.

Sharma said he expects Pakistan to remove most barriers to trade. Pakistan currently allows imports of nearly 2,000 items, including cotton, sugar and textiles. Restrictions remain on goods such as pharmaceuticals and jewelry.

“Barriers to investment are particularly high due to restrictive visa regimes and difficult clearances,” the CII said. “This results in the inability of industry on both sides to leverage each other’s financial, technological and managerial resources.”

To contact the reporter on this story: Bibhudatta Pradhan in New Delhi at bpradhan@bloomberg.net

To contact the editor responsible for this story: Hari Govind at hgovind@bloomberg.net

India
 
I wonder if Bharti will be allowed to set up network in Pakistan.
Everybody else goes out of business when they come in.
 
India-Pakistan trade set to take off in a big way
Sujay Mehdudia
ISLAMABAD, February 15, 2012

The economic and trade engagement between India and Pakistan is ready to take off in a big way notwithstanding the decision of the Pakistan Cabinet to defer the pruning of the ‘negative list.' The popular sentiment in Pakistan is for opening up of borders to promote peace.

An overwhelming majority of the chambers of commerce and industry of various cities and township have conveyed to the Pakistan Government that it is time to put in place a liberal trade regime, which is backed not only by the trading community but also by the people and corporate houses.

The Lahore Chamber of Commerce and Industry and the Karachi Chamber of Commerce and Industry are understood to have submitted representations to the government, suggesting that the issue of pruning the ‘negative list' should not be allowed to cast a shadow over the attempts to put in place a solid foundation for a long-lasting trading regime between the two nations.

“We are in the business of petrochemicals and have been trading with India through third countries. Indian Oil Corporation has been doing business with us and we have been happy.

There is a demand for 30,000 million tonnes a month of petrochemicals from Pakistan and this could easily touch 70,000-80,000 tonnes if we are allowed to trade through the Wagah border,'' Mian Nasser Hyatt Maggo of Al-riaz Agencies told The Hindu.

Mr. Maggo is of the view that it is time that the focus must be shifted towards direct trade between the two countries. “India also needs to work towards putting in place a liberal regime and facilitating transaction of trade and people at the Wagah border.,'' he remarked.

Another businessman in Lahore, Farrukh Siddiqui, said India and Pakistan had to open up their borders for trade.

“We have common interests and common agenda in many sectors. Why should we allow a third country to take advantage of the volatile situation and exploit our sentiments? We should become the big economic powers of Asia,'' he added.

The chambers of commerce and industry in Lahore and Karachi are pushing for pruning of the ‘negative list' in the areas where there is no disagreement/differences. Their viewpoint is that at least a beginning should be made and the rest will follow.


The Hindu : Business News : India-Pakistan trade set to take off in a big way
 
Thats what the security establishment and some hardlines in Dehli dont realize..
Sure..India can work without Pakistan and still prosper.. and its Pakistan this is the needy one in trade.
But given the chance.. a strong trade partnership between India and Pakistan will make India growth skyrocket even further..
and take Pakistan's economy to heights it never dreamed of attaining.
This is the corridor between the middle east and the far east. We are sitting on a potential gold mine.
 
what gain we have as pakistan is already exporting our goods from third Party...may be the access to afganistan.
 
Similar efforts to increase trade with Vietnam, Indonesia, Malaysia would have fetched better result.
 
I don't understand what some of my Indian brothers are trying to say here, Pakistan is a market no different from India and almost all products sold here and there can be traded, you don't need any special products. I'm happy for both the countries.
 
I don't understand what some of my Indian brothers are trying to say here, Pakistan is a market no different from India and almost all products sold here and there can be traded, you don't need any special products. I'm happy for both the countries.

I'm not against trading with Pakistan, but what you've overlooked is we should put equal emphasis to increase our presence in other markets too.
 
what gain we have as pakistan is already exporting our goods from third Party...may be the access to afganistan.


I,m not trying to be a saint here, if both the countries need to get to something close to the word peace trade is the best short we have.
 
I'm not against trading with Pakistan, but what you've overlooked is we should put equal emphasis to increase our presence in other markets too.

Agreed bro, but is it the right place to discuss trade with other countries, let me be honest seen very few Pakistanis who have come close to discussing trade with India let us help them and give them confidence, not that it is going to make to much of a difference in PDF. Let's make a small start.
 
Thats what the security establishment and some hardlines in Dehli dont realize..
Sure..India can work without Pakistan and still prosper.. and its Pakistan this is the needy one in trade.
But given the chance.. a strong trade partnership between India and Pakistan will make India growth skyrocket even further..
and take Pakistan's economy to heights it never dreamed of attaining.
This is the corridor between the middle east and the far east. We are sitting on a potential gold mine.

Not "WE" are , only m****f**** politicians and power elite wants to rest their a** on this gold mine , they don't want "WE" to get benefits from it , that's for all drama is going on from last 60 years
 

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