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Pak to give India MFN status, calls for south Asian Parliament
Iftikhar Gilani
New Delhi
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Photo courtesy: na.gov.pk |
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PAKISTAN has agreed to grant the most favoured nation (MFN) status to India, a move to help south Asia’s economic integration.
The step is expected to boost bilateral trade three-fold, which currently rests at a mere $1.85 billion as against $3 billion trade with the tiny island nation of Sri Lanka.
Visiting Pakistan National Assembly Speaker Fehmida Mirza raised the pitch for a south Asian Parliament on the lines of the European Parliament.
Participating at the fifth conference of the South Asian Association for Regional Cooperation (Saarc) Pakistan’s first woman Speaker, while referring to the Mumbai terror attacks said her country had concerns on the Samjhuhta Express train bombing incident.
She believed that frequent parliamentary interactions will be helpful in addressing various issues between the two countries.
India had granted Pakistan MFN status much earlier and regarded non-reciprocity as one of the major reasons for not signing bilateral investment treaty with Islamabad.
According to the World Trade Organisation (WTO) rules, it is the fundamental right of a country to get MFN status from another member country.
Pakistan, however, had its own woes. The non-tariff barriers (NBTs) set by India have adversely impacted Pakistani traders besides the restrictive visa regime, complex inspection procedures, poor connectivity and land infrastructure.
Iftikhar Gilani is a Special Correspondent with FW
iftikhar@tehelka.com
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