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Pakistan ready to extend MFN status to India: Envoy

Hindustani78

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Pakistan ready to extend MFN status to India: Envoy | Zee News
Last Updated: Wednesday, March 18, 2015 - 00:56

Kolkata, March 17 (IANS) Asserting that Pakistan would confer India the status of most favoured nation (MFN) once the dialogue process resumed, Pakistan High Commissioner to India Abdul Basit Tuesday claimed that his country had almost extended the facility in March 2014 before it was informally conveyed to wait.


"Pakistan was about to extend the MFN status to India in March 2014, but it was informally told, since it was an election year, it would be better if Pakistan waited and extended the facility after the polls," Basit said during a Calcutta Chamber of Commerce organised event here.

Asserting that Pakistan was keen to multiply its trade volume with India, he said the MFN status, now rechristened as non-discriminatory market access (NDMA), will be extended to India once the talks between the two countries resumed.

"As soon as India and Pakistan resume the dialogue process, Pakistan will extend the facility. Its just a matter of time.. In fact Pakistan is almost decide to extend the MFN after the dialogues begin," he said.

Despite India according the MFN status to Pakistan in 1996, Basit said his country had been reluctant to reciprocate owing to the "massive" adverse balance of trade with India.

"Bilateral trade now stands at $2.7 billion with Pakistan export to India accounting just $0.4 billion. While we would certainly like to see the bilateral trade to grow, there are practical problems that need to be sorted out.

"There's visa problems, connectivity is very poor, and then there are the non-tariff barriers. So, if there is a political will, then all these can be sorted out. That is why it is imperative for the dialogue process to resume and continue," he said.

Lamenting poor connectivity, Basit also called for enhancing investment opportunities in both countries.

"It's not only trade, what is imperative is we need to create investment opportunities in both the countries. At present such opportunities are almost negligible. I would also urge Indian government and private airlines to resume and start operations to and from Pakistan. Right now we have just three flights connecting India and Pakistan," he noted.
 
It's going to happen, it was only delayed because of the Indian elections.
 
Not happening until next year likely when modi is going to be visiting.
 
It's going to happen, it was only delayed because of the Indian elections.

Looking forward to this. One step at a time. Definately a positive start.

By the way, how does MFN benefit us?
 
Middle mens in Pakistan would do anything to sabotage this development .Simple importing of Indian Goods via Dubai is helpping a lot of powerful guys in Pakistan with billions .
 
Middle mens in Pakistan would do anything to sabotage this development .Simple importing of Indian Goods via Dubai is helpping a lot of powerful guys in Pakistan with billions .

There will always be people interfering in the progress of our nations....
 
Ab toh bhai MFN status dene ke baad hi baat karna, tired of listening to the same story for last two decades.
Why? It doesn't affect you, this is more to do with politics than economics.
 
Ab toh bhai MFN status dene ke baad hi baat karna, tired of listening to the same story for last two decades.

Relations are improving.

The High Commissioner of Pakistan in India, Mr. Abdul Basit addressing the gathering at the Maulana Abul Kalam Azad Institute of Asian Studies (MAKAIAS), Ministry of Culture, Government of India, in Kolkata on March 18, 2015. The Chairman, MAKAIAS, Shri Shitaram Sharma is also seen.
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Why? It doesn't affect you, this is more to do with politics than economics.

I disagree. It is economics because even though we granted MFN a decade back, you guys did not capitalize on it because your manufacturing costs are high relative to India.

Our agriculture is highly subsidized to benefit our farmers. We spend close to $100 billion on agricultural subsidies and provide free electricity to farmers. Income from agriculture is exempt from taxes. IF you grant MFN you are afraid that we will flood your mandi with our cheaper agri products.

If you import our agri products duty free then your consumers will benefit by reduced prices by up to 30%.
 
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