Empowering MSMEs with News & Insights

Pakistani traders considering suspending trade with India if situation doesn’t improve

Updated: Oct 31, 2016 10:07:19am

Pakistani traders considering suspending trade with India if situation doesn’t improve

New Delhi, Oct 31 (KNN) If one goes by a Pakistani media report, the Pakistani traders are considering to suspend trade with India under the current “hostile” conditions.

According to a report published in Pakistan’s Dawn News, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has last week said that “Pakistan had no compulsions of any sort to continue business and trade relations with India under the current hostile conditions”.

The report quoted FPCCI president Abdul Rauf Alam saying that the entire Pakistani business community was united to take any decision and given the tense situation in the region, it was not possible to continue trade relations with India.

He pointed out the role of the Saarc Chamber of Com­m­erce and Industry and said that it left them with no choice but to promote trade relations with ECO and D-8 countries.

On Kalabagh dam and the China-Pakistan Econo­mic Corridor (CPEC) issues, Alam said these issues are also facing controversies and losing such opportunities could be damaging for the country.

Earlier this month, the Saarc Chamber of Commerce and Industry had urged Pakistan and India to resolve outstanding economic and security disputes fully exploiting the economic potential of the eight-member South Asian Association for Regional Cooperation (SAARC) for better future and durable peace in the region.

India and Pakistan became trade partners in 2006 when they signed the South Asian Free Trade Area (SAFTA) Agreement.

Imports from Pakistan into India constituted USD 441 million in fiscal year 2016 while Indian exports into Pakistan stood at USD 2171 million.


    Be first to give your comments.


Required fields are marked *