MFN status to India unlikely before Oct
Pakistan Friday said it was unlikely that the process of granting India Most Favoured Nation-status to boost bilateral trade would be completed before October.
Islamabad: Pakistan Friday said it was
unlikely that the process of granting India Most Favoured Nation-status to boost bilateral trade would be completed before October.
The Pakistan government is working on the process of
moving from a positive list to a negative list for trade with
India and the Commerce Ministry is consulting all stakeholders
regarding the move, Foreign Office spokesman Abdul Basit told
a weekly news briefing.
"As far as MFN is concerned, you all know that a decision
has been taken in principle to move from the positive to a
negative list in our trade with India," Basit said in response
to a question.
"The work is in progress and the Ministry of Commerce is
engaged in consultations with all stakeholders. A final
decision in this regard will be taken by the Cabinet and I do
not see that happening before October 2012," he said.
India and Pakistan agreed last year on a number of steps
aimed at increasing bilateral trade from two billion dollars
to six billion dollars in three years.