NEW DELHI — Pakistan agreed to normalize trading relations with India, a move that may give a boost to moribund talks aimed at improving relations between the hostile South Asian neighbors.
Pakistan’s Information Minister Firdous Ashiq Awan told a news conference Wednesday that Pakistan’s cabinet decided to grant India “Most Favored Nation” status, a decision that will likely boost bilateral trade.
…There is huge room for growth in trade. In the year ended March 31, India exported $2.33 billion of goods to Pakistan. In the same period, Pakistan sold goods valued at $332.5 million in India, according to Indian government statistics.
By comparison, two-way trade between India and China, New Delhi’s largest trading partner, is valued at more than $60 billion annually.
*Frederic Bastiat and Otto T. Mallery.