India now Pakistan’s MFN

India now Pakistan’s MFN

The Federal Cabinet of Pakistan has recently come to a decision that would allow India to conduct trade with Pakistan under the title of the Most Favored Nation. This decision was reached by the court after a unanimous agreement by the cabinet on the issue.

Having cleared the first hurdle, the cabinet has also decided to take the matter up to the parliament of Pakistan in order to get its approval on the MFN status of India as well.

The Ministry of Commerce played its part by updating the cabinet with the trade relations between the two neighbors and how might a MFN status help to improve trade between the two countries. Having heard what the Ministry of Commerce had to say on the matter,
the cabinet was in agreement with the stance of the ministry and the proposal to give India the MFN status.

The Indian Trade Secretary Rahul Khullar, expressed his views on the matter while talking to the Reuters in New Delhi: “It’s a very powerful step, and a welcome step in the right direction. It’s good for business. It’s good for commerce, and most importantly
it increases confidence on the economic front that both Pakistan and India are committed to moving the social and trade agenda forward.”

After the cabinet had made its decision on the matter, a post cabinet meeting was held in which the Prime Minister of Pakistan Yousaf Raza Gilani was briefed by the Information Minister, Dr. Firdaus Ashiq Awan on the development that had taken place in the
cabinet session.

Awan made the following comments while addressing the reporters later on: "This was a decision taken in the national interest and all stakeholders, including our military and defense institutions, were on board.”

The impact of the MFN status given to India could be far reaching and strong. It would not only work to better the economic conditions of Pakistan as well as India, but the MFN status will also lead towards easing tensions between the two countries that
have had hostilities amongst each other and are in the possession of nuclear arsenal.

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Posted by Rabiya Maqbool on Nov 3 2011. Filed under Pakistan, Politics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry