Amid a number of bold steps towards trade normalisation between Pakistan and India, New Delhi hoped that Islamabad would confer the Most Favoured Nation (MFN) status by the end of this month as per commitment. The event was organised by the Federation of Chambers of Commerce and Industry (FPCCI).
He said that agreements relating to liberalisation of visa regime had already been signed by the two sides, adding that it would be implemented as soon as it had been approved by parliament in Islamabad and also the President of Pakistan.
Commenting on reservations expressed by growers of farm products in Pakistan, he said that their objections were not justified on practical grounds, as these products were imported and exported by both countries when there were shortages on either side. He said that a Joint Working Group was looking into the process of re-opening Munabao-Khokhrapar land route for trade activities while other routes might also be opened in future.
Pakistani exporters, he said, should identify Non-Tariff Barriers (NTBs) faced by them while going for trade with India, instead of talking about such issues, as there were no Pakistan-specific policies, rules and procedures of trade in India. He said that he hoped that the ongoing trade normalisation process would also facilitate trade connectivity even beyond the Saarc region to Central Asian states and the Middle East.
Talking about trade initiatives taken by India over the past few years, the High Commissioner said that his country had agreed to bring down its Sensitive List - maintained under the South Asia Free Trade Agreement - by 30 percent. He said that under Safta, India maintained a 614-item list of goods Pakistan "cannot export across its eastern border".
After the trade talks, New Delhi would cut down the list to just 100 items by April next year. Pakistan also maintained a sensitive similar list containing 936 tariff lines, which it will bring down to 100 over the next five years. He informed that as many as 800 trucks passed through the Wagha-Attari border on daily basis showing a growth in trade activities between the two countries. The number of visas had also significantly increased.
Besides, both countries had decided to keep the Wagha route operational for seven days a week, against the current six days a week. He said that no proposal was being considered for arranging bilateral trade in local currency. FPCCI President Haji Fazil Kadir Khan and S M Muneer also spoke on the occasion.