India awaits Pakistan's MFN status

NEW DELHI: India wanted Pakistan to implement its decision to grant India Most Favoured Nation (MFN) status.

Federation of Indian Chambers of Commerce & Industry (FICCI) President R V Kanoria told the media men in New Delhi that India is waiting when Pakistan grants it status of MFN.

He was optimistic that visit of Indian delegation to Pakistan would boost trade ties.

It may be noted here that nearly after three decades, an Indian Trade Minister will visit Pakistan, for three days starting February 13 to strengthen economic ties.

Commerce, Industry & Textiles Minister Anand Sharma, along with 80-member strong delegation, will visit Lahore, Karachi & Islamabad to interact with Pakistani CEOs and officials.

R V Kanoria said the main object of three-day visit is to completely normalize trade ties between both countries.

"I have no doubt in my mind that bilateral trade which currently stands at about USD3 billion can be raised to USD 10 billion if trade through third countries (Dubai, Singapore & Central Asian countries) is channelised into direct exchanges between the countries," Kanoria said.

India & Pakistan trade with each other amounts to less than 1 per cent of their respective global trade. (Geo Urdu/PPI)