Pakistan Business News
International Business News
An understanding, written or otherwise between the incumbent government and India has understandably been reached to gradually enhance the volume of trade without much publicity to avoid strong reaction by the people of Pakistan. The decision comes after Secretary level talks between the two countries ended last Friday.
Pak-India Business Council: On the face of it, there appears to be no harm in promotion of trade relations yet we would say that there are a series of reservations in certain trade circles in Pakistan and according to their analysis, it would give a further jolt to Pakistan industry which is already facing crises of all sorts. There are reservations that India would flood the Pakistani markets with goods that are already being produced in Pakistan. Though the quality of Pakistani products is much better than the Indians, yet New Delhi as part of its policy to weaken our economic base, could give more incentives to exporters to Pakistan to make our products incompetitive. To prevent that, necessary regulatory duties must be levied on the Indian imports so that there is a healthy competition and in no case dumping of Indian products is allowed. At the same time it must be made clear to the Indians that they would not impose any restrictions and allow free access to Pakistani products in their markets so as to ensure balance of trade between the two countries. Pak-India Business Council has welcomed the agreement and in principle no one would object to increased trade with India or any other country on the basis of mutual interest yet we would urge the government to take private sector leadership on-board so that there was no negative impact on our industry.
At the same time political irritants, which have made the whole region hostage, should not be put on the back burner and instead the forward movement in trade and other relations be utilised to resolve the problems between the two countries including the core issue of Kashmir.