The Emirate of Dubai risks losing $1.5 billion annually in re-export commerce, if the bilateral economic embargo between Pakistan and India ceases, reported Al-Hayat daily.
Indian and Pakistani prime ministers are scheduled to meet next week in New Delhi in an attempt to resolve controversies currently facing the two nations. One possible outcome of the talks may be the removal of trade barriers between the two, resulting in a decrease of activity at Dubai’s port.
In the past, Pakistan and India relied heavily on Dubai for trade. Unofficial reports maintain that trade between India and Pakistan, most of which flows through Dubai’s ports, reaches between $1.5 billion to two billion dollars yearly. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)
