ISLAMABAD: Pakistan’s newly appointed Foreign Minister Ishaq Dar on Saturday said the Pakistani business community was interested in resuming trade with India and the government would examine the possibility by holding consultations with all stakeholders. about the topic.
Pakistan downgraded diplomatic relations and suspended bilateral trade with India after New Delhi revoked the special constitutional status of Jammu and Kashmir in August 2019. The move escalated tensions between the two nuclear-armed neighbors, and the Islamabad administration. described the decision as a violation of the autonomy of the disputed region that would create further instability in the neighborhood.
The wider geopolitical divide between the two countries affected businesses on both sides that previously benefited from cross-border trade in goods such as textiles, agricultural products and medical supplies.
India took extreme measures in August 2019 by making a constitutional and legal amendment which was very painful,” the Pakistani minister said during a media interaction in London. “There are UN Security Council resolutions [on the Kashmir issue] and the dispute persists.
But I think the Pakistani business community has been making this call and demand [to resume trade with India],” he continued.
Dar said the issue arose during his consultations with them before presenting the budget as finance minister last year.
“Everyone pointed out that imports continue through Dubai and Singapore with additional freight and transportation costs,” he added. “Therefore, we will look into this seriously. All interested parties will sit together and see, at least as far as economic activities and trade are concerned, what can be done.
However, he noted that any decision related to the issue would require consultations.
You can’t change your neighbors,” he said. “Keep that in mind… We have to coexist with them.