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Pakistan Should Be Open To Trade With Inida

2322 words - 9 pages

Trading is a process of buying, selling and exchanging of necessities within a country or between different countries. Trading helps in boosting of the economy of a country and fulfils the requirements which the country lacks. It also makes it possible for a country to sell its surplus product the in international market, thus act as an income source for a country. Most Favoured Nation is a trading status that one country gives to another by virtue of which trade is enhanced with that country. This status is enforced by World Trade Organization and it provides the country which is being favoured with several advantages as it makes the product easily reachable to that country and it lowers the product price for that specific country. Considering 67 years of hatred, resentment and rivalry none of the Pakistani patriots will opt India for the MFN status. Most people will be of the opinion that it is an act to strengthen the enemy and an attempt to discard the sacrifice of the soldiers made by giving up their lives for the protection of Pakistan from India. Although people have reservation on declaring India as Most Favoured Nation but by doing so economy of our country can enhance. Along with economy our relations with neighbour can improve which can somehow reduce tensions between the two countries. Improving relations would mean the long lasting issues such as Kashmir issue can be solved by talks instead of war. Thus the net effect of declaring India MFN would prove beneficial for Pakistan.
Economic development of a country and trade has a great link. Developing countries which include both Pakistan and India mainly rely on trade to improve their economy. Pakistan mostly depends on Western countries for trade regardless of the fact that there is huge demand of Pakistan’s products in Asia. Pakistan’s fruits, vegetables, sports goods, leather goods and cotton yarn are in high demand in Indian industry (Trade between India and Pakistan ). Therefore these products can be exported to India resulting in increase of the national income of the country, which as a result will influence the economy positively. According to the Peterson Institute for International Economics (PIIE) model, there is a great potential of trade between India and Pakistan, which is approximately 20 times more than the current trade carried between the two countries. This implies that in 2008 trade margin of both countries was about US$ 2.1 billion, which can be expanded from the current limit to US$ 42 billion if both countries enhance their trade (Khan). Hence providing MFN status to India will not only increase trade, but will also help in the growth of economy of Pakistan. Another way through which trading can benefit Pakistan’s economy is that it will help in the reduction of overall import bill of Pakistan thus boosting net income of Pakistan. Trading with India compared to other countries will prove cheaper because the raw material imported from India will be less costly as...

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