India pushes for trade boost as Pak plays truant
“India is of the view that there is no way (to strengthen ties between India and Pakistan) other than building an atmosphere of confidence and trust. This is the only way for ensuring peace and stability. And, for that, the only way is economic partnership,” said commerce and industry minister Anand Sharma at the ongoing Global Partnership Summit organised by the Confederation of Indian Industry here.
A 10-member Pakistani business delegation, led by Pakistan commerce minister Makhdoom Amin Fahim, that was supposed to participate in the summit had cancelled its visit due to the strained relationship between the two nations in the wake of killing of two Indian soldiers by the Pakistani troops.
Moreover, talks on the most favoured nation (MFN) issue also took a hit as Islamabad did not honour its commitment of granting the MFN status to India by December 31, 2012.
India had granted Pakistan the MFN status under the World Trade Organisation (WTO) rules in 1996, which means that in terms of trade matters it would be treated like any other country. MFN status doesn’t mean any additional benefits, but merely that the country concerned will not be discriminated against in terms of trade.
“We have taken a decision on investments and opening bank branches. I know we have friends from Pakistan in the audience here.
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