Pakistan’s
Gifts & Crafts on sales cabinet agreed Wednesday to normalize trade relations with India in a move that could improve political relations between the countries and bolster Pakistan’s struggling economy. Pakistan’s information minister said that Indian exports would be treated as favorably as those from Pakistan’s other trading partners. Currently, Pakistan admits fewer
Transportation on sales than 2,000 types of Indian products. Both countries have said they want to more than double trade between them, to 6 billion a year. Consumers in Pakistan are likely to benefit more from the change, gaining access to more and cheaper Indian goods. Pakistani businesses
Environment on sales will likely face stiffer competition, especially in auto parts, pharmaceuticals and consumer goods. Policy makers also hope the move encourages progress on other trade issues, like India’s product-quality standards, which Pakistan says inhibit its exports.