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Pakistan Considering MFN Status For India

by Mary Swire, Tax-News.com, Hong Kong

01 December 2011


Pakistan's National Assembly has backed proposals to grant India 'Most Favoured Nation' (MFN) status under World Trade Organization rules on the condition that the two countries' negotiators can establish reciprocal benefits for Pakistani exporters.

Most Favoured Nation status would provide India with legal assurances that its exporters would be treated on the same basis, in terms of the tariff and non-tariff barriers applied to its exports, as other nations granted such status, such as all of Pakistan's major trading partners with the exception of Israel and India.

Pakistan, despite having been granted MFN status by India in 1996, reportedly remains concerned about Indian subsidization of its local market, which is not permitted under the regime, and the existence of tariff and non-tariff barriers, said to have restricted Pakistani export growth.

Pakistan's Minister for Textile Industry, Makhdoom Shahabuddin underscored that an agreement could be reached only if Pakistan's national interests are safeguarded.

TAGS: Pakistan | tax | business | India | export duty | interest | fiscal policy | World Trade Organisation (WTO) | trade disputes | import duty | trade

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