Pakistan set to accord MFN status to India

Pakistan has completed formalities for giving India the most favoured nation status after negotiating on various tariff-related issues, said Pakistan High Commissioner Abdul Basit Khan on Saturday.

"We await the formation of the new government as we are keen on bringing the two countries together. Our progress has been hampered after being in existence for 66 years following contiguous issues pertaining to Jammu and Kashmir, Siachen and across borders terrorism and violence. These issues do not have place in the present date and time and we need to move ahead of them,” Khan said. 

He was speaking at the inauguration of the “Made in Pakistan Expo 2014” organised by the Pakistan Readymade Garments Manufacturers and Exporters Association, EVECON, MVIRDC World Trade Centre and All India Association of Industries here.

He said, "We have nearly 4 to 5 million people living below the poverty line. This negativism has to be eradicated to be replaced by thoughts of progress and growth. The business communities in both countries have an important role to play in the same."  

 

While applauding the efforts of the exhibitors from Pakistan, Khan said that despite the geopolitical risks, the business communities of both nations have walked past the negative narratives. 

"The business participants from India and Pakistan have instilled mutual cooperation, interest and trust in each other. The perseverance in commitment showcased by the exhibitors may serve as learning lessons for one and all," he added.

Outlining the steps being taken to further ties between the business communities of India and Pakistan, Rukhsana Shah, Secretary, Ministry of Textiles, Government of Pakistan, said the “Most Favoured Nation” status for each other will open trade and investment opportunities. 

 

It will serve as a win-win situation for both nations. Acknowledging the presence of exhibitors from the textile domains of Pakistan, Shah said that Pakistan’s textile industry has a footprint in the country serving its domestic and global markets. 

 

The textile industry accounts for nearly 40 per cent of Pakistan’s workforce.