Bhurban (Pakistan), September 9
Encouraged by the increasing flow of goods to Wagah border, India and Pakistan today discussed the opening of more land border points to increase bilateral trade.
The Indian Commerce Minister Mr Kamal Nath, during a meeting with his Pakistani counterpart Humayun Akhtar Khan in this tourist resort town, said the opening of land routes for trade as well as to permit more goods other than the five essential items currently being permitted by Pakistan, would help in bringing down the prices and inflation.
During the meeting on the sidelines of the G-20 Ministers Conference, Mr Nath said he raised the issue of growing economic engagement which serves both countries well.
He said he tried to impress Mr Khan, saying India was not only a large economy but also a large growing market which Pakistan could take advantage of.
Meanwhile, India, Pakistan and China and other G-20 members flayed developed countries for pursuing policies that marginalised the already fragile economies of developing nations, even as the group began working on a joint strategy to bring pressure on the West to cut subsidies and provide better market access.
India’s Commerce Minister Kamal Nath said developed countries had to address the problems of subsidies to their farmers as well as continuation of NTBs, which seriously undermined the economies of the developing nations.
“We have been trying to impress upon the developed countries that the current round of talks are aimed at enhancing the multilateral trade of the developing countries. Unfortunately, the developed countries are looking at this round to enhance their own economies,” he said.
The G-20 group, which had gained immense credibility in the recent years, resisted the use of NTBs by the developed countries, he said.
Officials of the G-20 countries grappled to prepare a joint declaration, evolving a strategy specially on the WTO negotiations on the agricultural subsidies slated to be held at Geneva later this month, disappointment prevailed as only eight ministers of the 21 countries of the grouping attended the conference.
— PTI
