Prime Minister Narendra Modi will chair a meeting on September 29 in which the ‘Most Favoured Nation’ status granted to Pakistan will be reviewed. The decision comes a day after PM Modi held a meeting with top officials to review the Indus Waters Treaty. Top officials of the Ministry of External Affairs and Commerce Ministry will be in attendance.
The review meetings come post the Uri terror attack in which 19 Indian soldiers were killed, following which India has made it clear that ties with Pakistan will never be the same again. India has already reiterated its stand of isolating the country globally, and has called for nations to do the same.
The ‘MFN’ status was accorded in 1996 under WTO’s General Agreement on Tariffs and Trade (GATT). Both India and Pakistan are signatories to this which means they have to treat each other and rest of the WTO member countries as favoured ‘trading partners’. Bilateral trade between the two nations, however, stood at just 0.4 per cent of India’s overall goods trade worth.
Earlier on Monday, External Affairs Minister Sushma Swaraj also took on Pakistan at the UNGA debate while replying to Nawaz Sharif. She said, in an indirect manner, that Pakistan was supporting terrorist activities in South Asia and the world and needs to be isolated.