ISLAMABAD: The relations between India and Pakistan have always been on a sensitive note. Currently, the exchange of fire from both side of the borders have diminished the possibilities of trade between the two countries.
Even though Pakistan and India has gone head to head in highlighting war scenario, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged that the arch rivals must be given a status of most favoured nation (MFN).
According to a statement by Zubair Ahmed Malik, President of FPCCI, “Islamabad should grant MFN status to India without further hesitation so that the two neighbours could achieve goals of poverty reduction and achieving prosperity”.
Currently the relation between the two countries is going into a very critical phase where India has merely given benefit of doubt to its neighbour Pakistan.
Malik states that in the last two years, bilateral trade has doubled reaching up to $2.7 billion. He added that if similar strategies adopted, both countries may benefit from quadrupled results i.e. $8 billion.
Adding to the statement, he said that if strong political backing is available to them then Pakistan can earn more or less a trade potential of $50 billion on yearly basis.
The Press release issued by FPCCI also urged that the visa restrictions between the two nations must be eased so that potential may be attained in actual practice.
Zubair said, “I believe that MFN will not be a death knell for the Pakistan economy as regarded by some Pakistani sectors, it only suggests that for trade purposes a WTO member country will not be discriminated by other member countries”.