WASHINGTON, D.C. - The US hopes that there will be progress in Indo-Pak trade ties after the general elections in India, saying there is no reason why bilateral trade cannot quadruple in a few years’ time to $10 billion. “Clearly, the biggest constraint to boosting trade and energy flows is in addressing the barriers between India and Pakistan,” Assistant Secretary of State for South and...
Central Asia Nisha Desai Biswal said in her address to the Harvard University in Boston. Biswal said the US is encouraged by the economic progress that Pakistan has made in the past year, though it still faces many challenges ahead. “An improved climate between Pakistan and its largest neighbour can pay enormous economic dividends. India-Pakistan trade in 2013 was still a paltry $2.5 billion. There’s no reason that number can’t quadruple in a few years’ time to $ 10 billion,” Biswal said. “We have heard some positive murmurings in Islamabad and Delhi that both governments are moving in this direction and we are hopeful that they will make progress after the Indian election,” Biswal said. She said this is clearly a time of great dynamism across South Asia, with elections and transitions that have been unfolding over the past year and concluding over the next few months.
While the transition in Afghanistan is the cause of much angst and anxiety, they are focused on the opportunities and imperative it creates for connecting the economies of South Asia and Central Asia, she added. Through the New Silk Road vision US has been focusing its efforts in four key areas - creating regional energy markets that link Central with South Asia; Boosting transportation routes and investing in critical infrastructure; Improving customs and borders; and linking businesses and people.(PTI)
While the transition in Afghanistan is the cause of much angst and anxiety, they are focused on the opportunities and imperative it creates for connecting the economies of South Asia and Central Asia, she added. Through the New Silk Road vision US has been focusing its efforts in four key areas - creating regional energy markets that link Central with South Asia; Boosting transportation routes and investing in critical infrastructure; Improving customs and borders; and linking businesses and people.(PTI)