India set to review Pakistan's MFN status after 'fruitless' meeting on Indus Water Treaty
According to the Indian media reports, the top officials of the Commerce Ministry and Ministry of External Affairs have been invited to meeting. They would brief the Indian premier on Pakistan's MFN status and any possible consequences if India withdraws it.
India had granted the Most Favoured Nation status to Pakistan under its commitments with the World Trade Organisation (WTO) in 1996, when the two countries were trying to improve their bilateral trade ties.
India's trade with Pakistan makes only 0.41 percent of India's global commerce merchandise. In 2015-16, Pakistan accounted for only $2.67 billion out total $641 billion: $2.17 billion in terms of exports and less than $500 million for imports.
Pakistan and India are in the war of words following the September 18 attack on India military base in Uri, Occupied Kashmir which resulted in deaths of 18 Indian troops. New Delhi accused Pakistan for the attack while Islamabad categorically dismissed the claim, terming it India's attempt to divert world attention from military atrocities in held-Kashmir.
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