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Pakistan defers MFN status to India
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Pakistan, 15 February,2012
Pakistan deferred its decision to finalize a list of goods it does not want to import from India, an important step towards granting it the most favoured nation (MFN) status.
Once the MFN status is granted, Pakistan will have to treat India on par with its other favoured trading partners. India unilaterally gave MFN status to Pakistan in 1996.
Business leaders who accompanied Commerce and Industry Minister Anand Sharma on a visit to Pakistan expressed disappointment over the decision. Before the visit, Indian authorities and industry chambers had expressed hope that Pakistan would implement its promise of granting MFN status to India during the trip.
The Pakistani cabinet, at a meeting chaired by Prime Minister Yousuf Raza Gilani November 2, had decided in principle to grant MFN status to India.
The main hurdle in implementation of the decision is the finalization of negative list of goods.
Pakistan's commerce ministry has proposed an India-specific negative list of 636 items. Pakistani Commerce Minister Makhdoom Mohammad Amin Fahim has approved the list. However, the cabinet has deferred its decision.
Source: www.ibnlive.com
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