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Last Updated:[09-12-2013 00:06:52 EDT] Zoom in Zoom out Back to Tradenews

Indo-Pak Trade worth $10 billion in the next three years

tradenews Despite the tense political situation between India and Pakistan, there exists a lucrative possibility of over $10 billion worth of bilateral trade between these two Asian countries. This number was projected by Mr. Iftikhar Ali Malik, Senior Vice President of South Asian Chamber of Commerce and Industry, while speaking to Indian journalists in New Delhi through a news conference hosted by the Pakistani High Commission in India. However, just as any good natured Bollywood movie, India is expected to resolve all the bilateral issues existing between the two volatile neighbours.

While India and Pakistan harbour a trade potential for over $50 Billion, the mutual mistrust and a very agnostic past has wrecked a very promising trade arrangement. Better relations will allow Pakistan to mark India as a Most Favoured Nation (MFN) and a bunch of tariff and non-tariff barriers can be removed, thereby directly affecting the current meagre $2.5 Billion/year trading scenario. Mr. Malik also cites that the Indian Government’s action of making their visa policy very strict for the Pakistani business community isn’t helping matters much.

It’s a classic case of two business units trying to strike it rich, despite the fact that their respective countries are counted amongst the bitterest neighbours on planet earth. For India and Pakistan to embark on a fruitful journey of trade and commerce, the present tense situation must be negated. As clichéd as it might sound, bilateral talks are the only feasible, scalable and long-term option available. Hoping that good sense prevails and these two developing countries will drive the benefits of sustained peace, as evidenced by a healthy and mutually productive trade relationship.

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