World Bank advises Pak to normalize trade ties with India

The World Bank has advised Pakistan to normalize trade relations with India.

The WB also urged the Nawaz government's economic planners to adopt pro-consumer policies by moving away from protecting handpicked domestic industries.

According to the Express Tribune, the bank in its policy note on 'Reinvigorating the Agenda for Opening Trade' urged Pakistan to normalize trade with India, which will boost Islamabad's exports to New Delhi by at least 40 percent.

The note said that complete normalisation of trade relations with India, including opening the borders, will facilitate deep forms of trade integration.

It added that the measures are necessary to benefit from India's growth and to promote complementarities.

According to the report, the bank said both the countries should focus on expediting measures to facilitate trade, build on the recently signed agreements on mutual recognition of visas, and improve infrastructure and regulatory frameworks.

It advised Pakistan that all impediments to trade at borders, especially at Wagah-Attari border should be removed.

It further added that Pakistan and India should negotiate a transit trade treaty to give New Delhi access to Kabul, a suggestion that is contrary to Islamabad's foreign policy, the report said.

World Bank also critically reviewed the country's overall trade policy and recommended an overhaul, it added.