Pakistan India Trade: Present and Future Currently, about three to four billion U.S. dollars informal trade continues between statistics major all seven countries statistics major of SAARC countries. In the Pakistan and India exchange of goods in the amount of $ 1 billion annually through traditional statistics major sources such as cross border smuggling and personal luggage. Although both countries are members of the South Asian Free Trade Area (SAFTA) was established in January 2006, trade between the two countries is unnaturally small. Total trade, exports and imports, between India and Pakistan in 2008 was just over $ 2 billion. The overall level of trade, exports and imports, between India and Pakistan could expand from the current level of $ 2.1 billion to as much as U.S. $ 42 billion, if the "normal" relations hold for both countries. What is holding back trade between the two countries Restrictions on economic integration is of high tariffs statistics major and nontariff barriers, inadequate infrastructure, bureaucratic inertia, red tape and direct political opposition. India tariff rates are high, especially in the case of goods of special importance for Pakistan, such as textiles, leather, statistics major mineral onyx and nontariff barriers are significant. Pakistan also maintains a fairly narrow positive list (approximately 1400 items) on goods that India can export to Pakistan. statistics major In October 2011, the authorities plan to open a second statistics major trade check post at Wagah border in Punjab state, only land crossing between the two hostile neighbors, in an attempt to increase the turnover. While India's trade with China grew to $ 60 billion, two-way India-Pakistan trade paltry $ 1.8 billion statistics major in the year ended March 31, 2010, essentially unchanged over the past five years, New check post is a good start. Indian officials have estimated bilateral trade can easily go up to $ 2.7 billion in the short term. But there will be fundamental changes in the volume of trade exchange between the two countries to increase their efforts to expand the list of products that they can trade with each other. This year, for the first time in 35 years, the Pakistani Minister of Commerce led business delegation to India last week. Environment includes nearly 80 leading industrialists, merchants and high officials. There, at the Pakistani traders have the opportunity to mingle with their equally eager-to-business counterparts Indians. India and Pakistan on Wednesday agreed to work together to double bilateral trade to $ 6 billion a year from the current level of $ 2.7 billion in 2014. Also decided to introduce visa liberalization since November 2011 for the business communities of both nations. Pakistan is committed to the implementation of the road map preferential statistics major trade relations with India, as defined in the South Asia Free Trade Agreement (SAFTA). The new system will enable a business visa, multiple entry and could be for a period of one year. Despite granting Pakistan MFN status, India has a lot of non-tariff barriers in place - such as the strict codes of certification, customs, security certificates and traffic restrictions - that make it virtually impossible for Pakistani businessmen to do business in India. Sources:
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