ISLAMABAD: Pakistan is in the process of normalizing trade relations with India which will culminate in the grant of Most Favoured Nation (MFN) status to it, Minister of Commerce Makhdoom Amin Fahim said on Tuesday.
In a written reply to a question of Begum Najma Hameed, he said it may be clarified that India has not yet been accorded the MFN status.
Presently, the import of 1958 items is allowed from India. The items presently on negative list are not being imported from India.
Ministry of Commerce is engaged with extensive consultative process with stakeholders including the chambers to identify vulnerable products for inclusion in the negative list.
The process of formulation of negative list will be completed by mid February 2012. If MFN status is granted to India - Pakistan can have market access to some 300 to 500 million consumers, he said.
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