Pakistan removes import ban from 12 Indian commodities

Pakistan removes import ban from 12 Indian commodities

Pakistan has decided to lift an import ban from 12 Indian commodities on November 12 and said that decision will allow normalising the trade relations between neighbours. The decision has been taken after the friendly and conducive meeting between the premier
leadership of the arch rival at SAARC summit, concluded on Friday. Furthermore, Pakistan has also decided to grant India the status of Most Favoured Nation (MFN) for mutual trade, as the foreign office declared during last week.

Pakistan and India are passing through another transitional period to settle down their disputes at table talks. The nuclear-armed rivals have spent most of their time after the independent with daggers drawn and haven’t let past any opportunity of mutual
leg pulling on various forums. They have fought three wars in last 60 years are so which remained result less despite heavy economic losses to the parties.   

The recent progress regarding the import of more items from India has been seen after Pakistan’s Commerce Ministry pleaded the Economic Coordination Committee (ECC) to lift import ban from 12 goods and the committee approved it after looking into the matter.

The spokesman of Pakistan’s Commerce Ministry told the media on Saturday that ECC has removed the ban from at least 12 items. He added that, “The ECC met on Friday and approved the addition of 12 goods in the positive list of items that can be imported from
India.”

Meanwhile, United States has also welcomed the developments which could help to stabilise peace in region. Robert O. Blake, the assistant secretary of state for southern and central Asian affairs, appreciated the relations building measures by both side
and said that it would put long lasting effects in the whole region.

He further stated that, “The United States is very encouraged by the positive recent steps taken by the governments of India and Pakistan to initiate close trade and economic ties. Closer trade will create a natural foundation to a stronger bilateral relations.
We understand the changes will not take place overnight but a number of recent developments across South Asia offer significant hope.”

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Posted by Shahid Nazir on Nov 12 2011. Filed under Latest News, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry