India-Pak trade much below potential: World Bank
Islamabad, Dec 6 (IBNS): A World Bank report has said trade between India and Pakistan could be as high as $37 billion as compared to the current $2 billion, The Dawn reported.
The report, “Glass Half Full: Promise of Regional Trade in South Asia”, was released at the World Bank here on Wednesday.
The report deals with four critical impediments to effective integration - tariff and para-tariff barriers to trade, complicated and non-transparent non-tariff measures, disproportionately high cost of trade, and trust deficit.
Speaking to the media on the report here, author of the document Sanjay Kathuria said it was his belief that trust promotes trade, and trade fosters trust, interdependency and constituencies for peace.
Opening of the Kartarpur corridor by governments of Pakistan and India, The Dawn reported him saying, would help minimise trust deficit between the two countries.
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