Pakistan Grants India ‘Most Favored Nation’ Trade Status

Posted November 2nd, 2011 at 8:50 am (UTC-5)
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The Pakistani Cabinet has approved a proposal granting India “most favored nation” status, a move aimed at boosting trade between the longtime nuclear-armed rivals.

Pakistani Information Minister Firdous Ashiq Awan told a news conference in Islamabad Wednesday that the decision was unanimous.

In September, the two countries’ trade ministers pledged to more than double the value of bilateral trade to $6 billion within three years.

The talks between the top Pakistani and Indian trade officials were the first in New Delhi in 35 years.

Trade flows between the neighbors have remained relatively small due to a legacy of mistrust. Pakistan and India have gone to war three times since their independence from Britain in 1947.