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Pakistan’s Foreign Minister Mohammad Ishaq Dar has signalled a potential shift in trade dynamics with India, expressing eagerness to “seriously examine” the prospect of resuming trade ties.
Speaking during a press briefing in London, Dar acknowledged discussions initiated by Pakistani business figures regarding the matter, emphasising the importance of a comprehensive dialogue involving all stakeholders before any decision is made. On a parallel diplomatic front, during his visit to Singapore, India’s External Affairs Minister S Jaishankar criticised Pakistan for what he described as its systemic backing of terrorism, denouncing it as “industrylevel” support. Jaishankar underscored the necessity for any future talks with Pakistan to confront this fundamental issue head-on.
The trade rift between India and Pakistan traces back to retaliatory measures taken following the Pulwama bombing in February 2019. India’s revocation of Pakistan’s Most Favoured Nation (MFN) status and subsequent tariff hikes on bilateral trade were met with Pakistan’s suspension of direct trade ties, coinciding with other diplomatic manoeuvres, notably in response to India’s abrogation of Article 370 in Jammu and Kashmir later that year.
Reflecting on the situation, Dar acknowledged the challenges posed by the continued flow of imports from India, albeit through circuitous routes, underscoring the eagerness of Pakistan’s business community to reignite trade. Despite Dar’s overtures, the Indian Ministry of External Affairs refrained from commenting on the matter.
Jaishankar, speaking at an event in Singapore, reiterated India’s steadfast stance against terrorism, characterising it as an enduring menace requiring a forthright approach in bilateral engagements. He emphasised India’s commitment to addressing the issue transparently, notwithstanding its complexities.
Responding to Dar’s proposals, the Director of the Confederation of International Chamber of Commerce and Industry in Amritsar, Ashok Sethi, welcomed the potential for dialogue on trade resumption, citing the detrimental impact of the trade suspension on infrastructural investments at the Attari Integrated Check Point.
