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’Pakistan needs to review Pak-India trade pact’

Business Recorder, Pakistan

’Pakistan needs to review Pak-India trade pact’

6 May 2013

Chief Executive Officer (CEO) Harvest Tradings Ahmed Jawad has said that to boost the trade with the neighbouring country the government needed to review the Pak-India trade agreement. Talking to INP here on Sunday, Ahmed Jawad said that there was no other option than enhancing trade to normalise the bilateral political and diplomatic relations with India.

He said though volume of trade between Pakistan and India increased after fiscal year 2010-11 but most of the exports were from Indian side. The CEO said that in 2010-11 India exported $2.64 billion goods to Pakistan while in return trade export volume was only 1.7 billion dollars.

He warned that if equal opportunities were not provided to exporters and local industrialists before implementing South Asian Free Trade Agreement (SAFTA) Pakistan had to face three billion rupees loss annually.

Ahmed Jawad suggested paving Pak-India trade on the trend followed by ASEAN countries and European Union (EU) so that both countries could get equal opportunities and benefit.