No impact of border tension on Indo-Pak trade
By Commerce Reporter
KARACHI: Despite mounting tension along the border, the trade between Pakistan and India has remained intact since the beginning of the current fiscal year. However, the trade balance remained in India’s favor. FPCCI Regional Chairman on Horticulture Exports Committee, Ahmad Jawad believed that trade with India should be called off for a temporary period in the wake of recent incidents on the Kashmir broader including continuous threat from the Indian forces. He said: “We want trade but not on the cost of continuing violation of ceasefire from the Indian side. Our national security is more supreme than trade. For an alternative, Pakistan may look to tap the Iranian and Chinese market which would be more emerging and ideal for our exporters,” Jawad added. However, a report by the State Bank of Pakistan (SBP) revealed that Pakistan grew its exports to India during the first eight months of 2016-17 while curtailing imports by 23 per cent. Though the two countries have long been locked in a bitter rivalry. but worsening political relations seem to have little impact on bilateral trade relations, according to trade analysts. After growing by 14 per cent, exports from Pakistan to India amounted to $286 million in the July-February. Imports from India fell 23 per cent to $958.3 million from $1,244 million recorded a year ago, the SBP report said.