No objection to MFN status for India: Pakistan

October 12th, 2011 - 1:54 pm ICT by IANS  

Islamabad, Oct 12 (IANS) Pakistan has no objection to granting Most Favoured Nation (MFN) status to India, a minister said in Lahore.

Commerce Minister Makhdoom Amin Fahim said Tuesday: “We will definitely carry it on.”

“However, we want to proceed step by step,” Dawn quoted the minister as saying.

The details would be finalised at a meeting of the commerce secretaries of India and Pakistan to be held in New Delhi next month, he said.

The MFN status could be a big step forward in strengthening trade ties between the two neighbours.

Once the MFN status is granted, Pakistan will have to treat India on par with its other favoured trading partners. India has already granted most favoured nation status to Pakistan and is treating it on par with other trading partners.

Fahim had been on a five-day visit to India last month.

Currently, Pakistan’s exports to India stand at $300 million, while the imports from India are at $1.5 billion.

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