NewsSeptember 27, 2018
Indo-Pak rivalry costing $35 bn trade deficit
NEW DELHI: India and Pakistan’s bitter rivalry is costing them $35 billion worth of annual trade loss, the World Bank said in its report.
Someone might want to tell the two countries’ leaders who want to boost trade to battle the widespread poverty. The World Bank called for South Asia, the world’s least economically-integrated region, to start cooperating instead of feuding. Trade between India and Pakistan could jump to $37 billion from $2 billion if New Delhi and Islamabad tore down the artificial barriers. The South Asian nations lose billions because they barely trade with each other. But the breakdown last week of the most recent attempt to mend ties showed, once again, why South Asia with 33 per cent of the world’s poor and 40 per cent of the world’s stunted children is unlikely to realise those gains.Courtesy www.thenews.com.pk
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