If India and Pakistan want to strengthen trade relations, they will have to separate politics from business, said Trade Development Authority of Pakistan’s (TDAP) chief S.M. Muneer yesterday.
Stressing the need to promote regional trade among the eight-nation South Asian Association for Regional Cooperation (Saarc), he said that total trade currently stands at $6.7 billion only.
Citing example of the European Union (EU), he said that around 70 per cent of the trade is being carried out among the 28 member states. By contrast, Saarc countries prefer others over their neighbours for trade.
Around 70 per cent of the European Union trade is being carried out among the 28 member states
If India and China can deepen trade to around $100bn despite their history of confrontation, Pakistan and India’s reluctance to expand bilateral trade from the current meagre level of $3bn (with $2.5bn imports and $500 million exports to India) was not justified, he said.
