Search Result for : Mfn Status

The Dollar Business Bureau Despite the ongoing tensions between India and Pakistan, the Indian government is yet to decide on revoking the most favoured nation (MFN) status given to Pakistan, Commerce and Industry Minister Nirmala Sitharaman informed the Parliament on Monday. India accorded the MFN status as part of the World Trade Organisation’s (WTO) General Agreement on Tariffs and Trade (GATT) to Pakistan in 1996; a year after the World Trade Organisation (WTO) was formed. Pakistan, on the other hand, has not yet granted the MFN status to India. Instead, it has adopted the Non-Discriminatory Market Access (NDMA) agreement with India. When asked if the government has any proposal to revoke MFN status to Pakistan, Sitharaman said: “No such decisions have been taken so ...

If one goes by statistics, withdrawal of MFN status by India will not have a significant impact on Pakistan. Manish K. Pandey | The Dollar Business India’s relationship with Pakistan has always been complicated. After all, there has been a long history of never-ending issues between the two nations. The situation has become even more complex of late, particularly after India held Pakistan responsible for the attack on an army camp at Uri in Kashmir, an attack in which 17 Indian soldiers lost their lives.  Since then India has been weighing options to respond – from a direct attack on terrorist camps in Pakistan to increased security on the border with its neighbour, from boycotting SAARC summit being hosted by Islamabad to even rereading ...

Sai Nikesh | The Dollar Business Not an extraordinary market access, instead, India will likely be granted a Non-Discriminatory Market Access (NDMA), said Pakistan Commerce Minister in a recent announcement. Khurram Dastgir Khan, Commerce Minister, Government of Pakistan, on Saturday stated, “There is an incorrect perception among many that Most Favoured Nation (MFN) status to India means giving it extraordinary market access, which is actually not correct. That is why we decided to replace this term with NDMA.” However, he said granting NDMA status to India is almost same as MFN status, which it was supposed to give India under its treaty to World Trade Organisation. Referring to Pakistan Prime Minister Nawaz Sharif’s personal opinion on liberalisation of trade ...

. Sai Nikesh | The Dollar Business Pakistan on Monday said that the uneven trade prevailing between India and Pakistan is affecting Pakistan’s economy on a larger scale and the balance of trade is heavily in favour of Indian economy. Pakistan’s high Commissioner to India Abdul Basit said, “Providing Most Favored Nation Status (MFN) to India will adversely affect Pakistan’s economy because of the uneven trade. So, India should take adequate measures to increase imports from Pakistan to get MFN status.” Abdul Basit was speaking at a conference on Enhancing India-Pakistan trade, organized by the Indian Council for Research on International Economic Relations (ICRIER), in New Delhi on Monday. Highlighting the number of non-tariff barriers imposed by India on ...