In a major development in the peace process between the two nuclear-armed arch-rivals, Pakistan has decided to lift a nearly two-year old ban on Indian sugar and cotton imports. Government sources told Reuters that Pakistan’s Economic Coordination Council, on Wednesday allowed the private sector to import 0.5 million tonnes of white sugar from India. Pakistan will also begin to import cotton from India by June 2021.
Government officials claim that this is being done in order to keep domestic prices under control. Lifting the two-year ban is an important step towards normalization of trade relationships between the two countries.
According to Reuters, Pakistani buyers have already started making inquiries about buying Indian sugar and cotton, which is being offered at lower prices than supplies from other countries.
The breakthrough came a month after the armed forces of the two countries released a rare joint statement, announcing a ceasefire along a disputed border in Kashmir, and strict observance of all agreements. Moreover, the Indian Prime Minister Narendra Modi sent greetings to Imran Khan on the eve of Pakistan Day, and wrote that India desires cordial relations with its neighbor.
Earlier on Tuesday, Pakistan’s Foreign Minister Shah Mehmood Qureshi mentioned these developments in his conversation with media representatives, calling these “positive and productive”. He also pointed out that Indian external affairs minister S. Jaishankar, unlike previous occasions, refrained from criticizing Pakistan at the ‘Heart of Asia’ Conference.
