Pakistan aims $1bn exports to India within a year
The Dollar Business Bureau As Pakistan’s textile products and readymade garments have huge market potential in India, it is planning to increase its exports to $1 billion within a year. Pakistan’s Minister for Commerce Khurram Dastagir Khan said this during a meeting with the Pak India Business Council delegation headed by Yawar Ali Shah on Tuesday in Islamabad. According to the minister, Pakistan is the most affordable market for India. Due to the availability of land route, it will be cost effective to import from Pakistan. India mostly imports raw material for agriculture and textile products. Agricultural products such as green peas can be exported to India, as freezing plants are available at a low capacity of 200,000 tonnes. Indian food manufacturers are ...
Pakistan moves closer to granting MFN status to India
Bidhu Bhushan Palo | @TheDollarBiz Pakistan’s plan to award the Most Favoured Status (MFN) to India, as a part of World Trade Organisation (WTO) obligations, is likely to materialise by this year-end due to efforts from both sides led by crucial stakeholders including industry representatives. This, provided, talks resume between the two countries. Under the WTO non-discrimination principle known as Most Favoured Nation (MFN), members are not allowed to discriminate between their trading partners. India granted the MFN status to Pakistan in 1996, but Pakistan has not done so due to several reasons including the Kashmir dispute, political turmoil and opposition from certain sectors such as rice, textiles and automobiles. Rice is a cash crop in Pakistan and does ...
Pakistani industry supports Indias stand on WTO
Neha Dewan | @TheDollarBiz India’s stand that it will first ensure a commitment by members of the World Trade Organisation (WTO) over government food subsidy programs before allowing a consensus on the Trade Facilitation Agreement (TFA) has got support from unexpected quarters. Syed Yawar Ali, Pakistan Co-Chair for India Pakistan Joint Business Forum (IPJBF), said in a conference in New Delhi that he supports India’s efforts to protect farmers’ interest in the WTO. “There are atleast 60% people in agriculture sector [in India], and USA and EU have only 2%, but yet they protect them very vigorously. So I would support India’s WTO effort here,” Ali said. Ali is also hopeful that Islamabad will soon grant the Most Favoured Nation ...
