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Pakistan suspends trade relations with India. Who wins and who loses
Relations between India and Pakistan deteriorated on Wednesday when Pakistan decided to degrade its diplomatic relations with India, said his high commissioner in New Delhi, expelled the Indian envoy to Islamabad and suspended bilateral exchanges.
These decisions were taken at a high-level meeting chaired by Pakistani Prime Minister Imran Khan, in response to the decision of the Narendra Modi government to abolish the special status accorded to Jammu and Kashmir under Article 370 of the Indian Constitution.
Pakistan called India's action a "violation of the United Nations resolutions on Kashmir" and raised the issue of raising the issue in various international forums, including the United Nations and the Organization of Islamic Cooperation. While announcing the deterioration of diplomatic relations and the suspension of bilateral trade, Pakistan also opposed India's decision to divide the former state of Jammu and Kashmir into two territories.
The worsening of diplomatic relations between the two countries is not new, especially in the immediate context of recent years. However, what is new this time is Pakistan's decision to completely suspend bilateral trade with India.
Pakistan's announcement came nearly five months after India decided to revoke Pakistan's most favored nation (MFN) status in 1996. This decision was made following the attack on Pakistan. Pulwama in Jammu and Kashmir, in which 40 members of the Indian security forces were stationed. killed in a suicide explosion. India claimed that the terrorist attack had been carried out from Pakistan, an accusation that Pakistan denied.
IndiaToday.in offers a data analysis that explains the trade relations between the two countries and indicates what it means to suspend bilateral trade for each of them.
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