20 Greater KashmirSRINAGAR | August 14, 2014, Thursday

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Indo-Pak trade has increased despite border tensions: studyIslamabad, Aug 13: Trade between India and Pakistan has been continuously rising despite recurring border tensions but is yet to tap its estimated potential of USD 12 billion, according to a study compiled by the SAARC Chamber of Commerce and Industry.

According to the SAARC Chamber's research report, the two nations have been trade partners since the beginning but the trade potential has remained under-utilised due to conflicts.

The study shows that bilateral trade was just USD 132 million till 1995 but increased in the coming years after India granted the Most Favoured Nation (MFN) status to Pakistan in 1996, immediately taking bilateral trade to USD 180.

Pakistan responded by increasing the tradable items list to 600 but has refused to give MFN to India due to political and economic reasons.

At present, of the total 7,200 tariff lines, 1,209 items are on the negative list. Their trade volume stands at an improved USD 2.4 billion, which is just a fraction of the informal trade between the two countries.

"They indulge in informal trade to the tune of USD 13 billion per annum through avenues like cross-border smuggling and personal baggage," the study said. PTI

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