The balance of trade through the Wagah border, Lahore, has remained in India’s favour during the last five years, said Vice President SAARC Chamber of Commerce and Industry (SCCI) Iftikhar Ali Malik while reviewing Indo-Pak trade with chamber members.
He said that from 2007/2008 to 2012 Pakistan exported goods worth Rs9 billion to India. Meanwhile India exported goods worth Rs50 billion, five times the value of Pakistani exports. Malik said that Pakistan and India, with the help of their private sectors, must take historic steps to normalise bilateral trade relations and ensure fair trade.
He said that despite being natural trade and investment partners, the volume of trade between Pakistan and India, the two largest economies of the region, has been extremely low. India accounts for nearly 1.2% of Pakistan’s global exports, while Pakistan accounts for less than 0.9% of India’s global exports.
Published in The Express Tribune, May 31st, 2013.
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