Islamabad, February 13, 2014 (PPI-OT): Welcoming the resumption of trade between Pakistan and India in Kashmir after a month, the Pakistan Economy Watch (PEW) Thursday said enhanced bilateral trade between Pakistan and India is only way to evade any chance of hostilities or war between neighbours.
Enhanced trade has emerged as the only strong incentive against tensions between Pakistan and India, it said. Bilateral economic ties can flourish despite unresolved conflicts which will transform lives of tens of millions of people living hopelessly in the region, said Dr. Murtaza Mughal, President PEW.
Despite disputes and wars India and China set a bilateral trade target of $100 billion by 2015, he said. Similarly, trade between China and Taiwan has crossed $175 billion mark while French and English who fought for centuries have become good partners like US and Vietnam.
Dr. Murtaza Mughal said that too much focus on security has deprived masses as well as the economies of the two countries of many benefits. He said that enhanced trade shouldn’t be confused with a compromise on disagreements just like Norway and Russia continued trade for four decades despite border dispute.
He said that conservatives in the both countries should stop supporting heavy investment in defence while compromising health, education and other services.
Some experts say that a peace agreement between Pakistan and India can help cut defence budgets by 25 percent helping both to gain around 550 billion of dollars in two decades time.
Enhanced trade will create a conducive environment for peace and improve economic situation which will lead to the resolution of disputes, said Dr. Mughal.
For more information, contact:
Dr. Murtaza Mughal
Pakistan Economy Watch
402, 4th Floor, Gulistan Khan House, Fazal-e-Haq Road,
82-East, Blue Area, Islamabad
Tel: +9251 251 0375
Fax: +9251 280 2449
Cell: +92321 515 7671
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