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Post-MFN, India to cut sensitive list to 100 tariff lines
20
Dec '12
India will cut down its sensitive list to 100 tariff lines by April 2013, after the county gets most-favoured nation (MFN) status from Pakistan, Mr. Sharat Sabharwal, Indian High Commissioner to Pakistan has said.
 
Addressing the members of Pakistan Textile Exporters Association (PTEA), the Indian Envoy said there is great potential for development in Pakistan, and stressed on further enhancing cooperation between the two neighbouring countries.
 
He said improved trade relations between the two countries will have a positive impact on the entire South Asian region.
 
He mentioned that intra-regional trade in the SAARC region was only five percent, compared to 25 percent in the Asean region and 65 percent in the EU.
 
The growing trade between India and Pakistan would increase the pace of economic development in South Asia, and would also contribute to integration of the South Asian region, the ambassador said.
 
The High Commissioner said the Indian Government had liberalized the visa regime and allowed investment from Pakistani investors to boost trade between the two countries.
 
Mr. Asghar Ali, chairman PTEA said opening direct trade routes with India would provide immense opportunities for both the countries. He said less than quarter of the potential trade between India and Pakistan is now being carried out. 
 
Mr. Ali suggested early opening of more direct trade routes to cut freight cost and time, as most of the trade between the two countries is currently routed through the Gulf countries.
 

Fibre2fashion News Desk - India

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