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INDO-PAK Trade Relations

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7/23/2019 INDO-PAK Trade Relations http://slidepdf.com/reader/full/indo-pak-trade-relations 1/39 INDO-PAK TRADE RELATIONS GROUP - 8
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INDO-PAK TRADERELATIONS

GROUP - 8

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OBJECTIVES

•  To state the comparat!e a"!a#ta$es the t%o #ato#s ho&"

•  To st'"( the tra"e patter#s )et%ee# I#"a a#" Pa*sta# o!erthe &ast +, (ears

• .e ha!e a&so st'"e" the re&ato# )et%ee# the tra"e /$'resa#" the GDP o0 the t%o co'#tres thro'$h re$resso# a#a&(ss

•  To 0orecast the tra"e /$'res )et%ee# the I#"a a#" Pa*sta#

•  To st'"( the sm&art( a"!a#ta$e the t%o #ato#s e#1o(

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INTRODUCTION

• I#ter#ato#a& tra"e has )ecome ma#"ator( # a %a(2 #o

co'#tr( ca# a3or" to )e se&0-s'4ce#t•  T&& +5562 I#"a# eco#om( %as a c&ose" o#e a#" tar3s %ere

rea&&( h$h2 a!era$#$ aro'#" 766 perce#t

• B't post +55+2 oo" $ates ope#e" a#" 9'&t#ato#a& /rmsstarte" e#ter#$ I#"a # hoar"s

•  The &ce#ce ra1 a#" the !ast amo'#t o0 tra"e )arrers %ere"o#e a%a( %th2 tra#s0orm#$ I#"a #to a &a#" o0 opport'#tes

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9:N STOR;<

• Both Pa*sta# a#" I#"a 1o#e" .TO 'po# ts 0ormato# # +55,

• I#"a comp&e" %th the GATT a#" $ra#te" 9:N to Pa*sta# soo# a0ter 1o##$the .TO =o%e!er2 ths 0ac&t( has #ot )ee# recprocate" )( Pa*sta#

• I#"a comp&e" %th the GATT a#" $ra#te" 9:N to Pa*sta# soo# a0ter 1o##$the .TO =o%e!er2 ths 0ac&t( has #ot )ee# recprocate" )( Pa*sta#

• +6 It %as o#&( as rece#t&( as 76++ that Pa*sta# "ec"e" to accor" 9:Nstat's to I#"a I# 76+72 t %as "ec"e" that the t%o co'#tres %&& e#1o(m't'a& 9:N treatme#t 0rom Ja#'ar( 76+> It s e?pecte" that the c'rre#t$o!er#me#t %&& soo# 0'&/&& ths promse as t 0aces a &ot o0 press're 0rom the

)'s#ess comm'#t( o0 Pa*sta# a#" #ter#ato#a& "o#or a$e#ces• No#-Tar3 Barrers mpose" 0rom the I#"a# s"e These NTBs are comp&e?

a#" ra#$e 0rom @'a&t( ass'ra#ce2 ph(sca& #specto# )( c'stoms o4ca&s2to !sa ss'a#ces

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POLIC; DEVELOP9ENTS SINCE 766

766• Post!e Lst

comprs#$ ,tems a&&o%e"to )e tra"e"

766•

Post!e&ste?pa#"e" to+6,tems

7665• Post!e

#crease"to +5>

tems

:e) 76+7• Post!e

&sta)o&she"

9arch

76+7• -!e &st

+765tems2+>tems !a&a#"

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LITERATURE REVIE.

1. India Pakistan Trade Relation )( Ja!" Ahma" Kha#2 76+7

2. Prospects and Challenges for Increasing India-Pakistan Trade )(Ishrat ='sa#2 76++

3. Normalizing India Pakistan Trade )( Nsha Ta#e1a2 9shta 9ehra2Prth!1t 9'*her1ee2 Samr"h Bma& a#" Isha Da(a&2 76+>

4. Pakistan-India Trade .hat Nee"s To Be Do#e .hat Does It 9atter

E"te" )( 9chae& K'$e&ma# Ro)ert 9 =atha%a(2 76+>

. India-Pakistan Trade! " Roadmap for #nhancing #conomicRelations )( 9ohs# S Kha#2 7665

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RESEARC= 9ET=ODOLOG;

• Seco#"ar( "ata co&&ecte" 0rom the 9#str( o0 Commerce a#" Tra"e2 Go!er#me#t o0 I#"a%e)ste a#" a %e)ste- httpFFstatstcstmescomF

•  The "ata s co&&ecte" 0or the pero" o0 +, (ears start#$ 0rom the /#a#ca& (ear 7666-6+ to76+-+,

 Tota& E?port a#" Import /$'res )et%ee# the t%o co'#tres• E?port a#" Import /$'res o0 top 76 commo"tes

• A&& the "ata 'se" 0or ths st'"( s ta*e# # I#"a# R'pees o#&(

•  The ImportFE?port "ata a!a&a)&e at the so'rce s mo#th&( c'm'&at!e "ata a""e" t&& 9arch o0e!er( /#a#ca& (ear

• 9o#th&( "ata 0rom the c'm'&at!e "ata seres s ca&c'&ate" )( s')tract#$ pre!o's mo#ths"ata 0rom the c'm'&at!e #'m)er

• 9o#th-o#-9o#th $ro%th perce#ta$e s ca&c'&ate" 0rom 766+-67 o#%ar"s %th respect to thesame mo#th o0 the pre!o's (ear

•  ;ear-o#-;ear $ro%th rate s a&so ca&c'&ate" 0rom 766+-67 o#%ar"s Perce#ta$e /$'res o0 thetra"e )et%ee# t%o co'#tres s a&so ca&c'&ate" # terms o0 I#"as tota& 0ore$# tra"e

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766+ 7667 766> 766 766, 766 766 7668 7665 76+6 76++ 76+7 76+> 76+

-666

-7666

666

7666

666

666

8666

+6666

+7666

-+5>+

,7

>7+,

,

>6>

+66+>

78+

-+,,

+77

76,

-+5,7

,68+

7>+

-+5>

'ro(th of #%ports

 &ear

Percentage

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7666 766+ 7667 766> 766 766, 766 766 7668 7665 76+6 76++ 76+7 76+> 76+6

,66

+666

+,66

7666

7,66

>666

>,66

India$s Imports from Pakistan

 &ear

In Rs. Crore

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766+ 7667 766> 766 766, 766 766 7668 7665 76+6 76++ 76+7 76+> 76+

-666

-7666

666

7666

666

666

8666

+6666

'ro(th of Imports

 &ear

Percentage

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7666 766+ 7667 766> 766 766, 766 766 7668 7665 76+6 76++ 76+7 76+> 76+6

7666

666

666

8666

+6666

+7666

Trade )*rpl*s from Trade (ith Pakistan

 &ear

In Rs. Crore

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7666 766+ 7667 766> 766 766, 766 766 7668 7665 76+6 76++ 76+7 76+> 76+6

67

6

6

68

+

+7

+

Trend of India$s #%ports to Pakistan as +age of Total #%ports

 &ear

Percentage

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7666 766+ 7667 766> 766 766, 766 766 7668 7665 76+6 76++ 76+7 76+> 76+6

667

66

66

668

6+

6+7

6+

6+

6+8

Trend of India$s Imports from Pakistan as +age of Total Imports

 &ear

Percentage

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ANAL;SIS

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HUANTITATIVE

•  Tre#" a#a&(ss 's#$ the E?ce& 0'#cto# to 0orecast Import a#"E?port "ata 0or the #e?t (ears

• tre#" a#a&(ss 's#$ the E?ce& 0'#cto# to 0orecast Import a#"E?port "ata 0or the #e?t (ears

•  The res'&t o0 the seco#" st'"( 0orms the )ass o0 the /rst st'"(

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REGRESSION ANAL;SIS RELATIONBET.EEN GDP GRO.T= RATE ANDEPORTS Calendar &ear

PPP ',P Per Capita

Rs.',P 'ro(th

Nominal Trade

I#"a Pa*I#"a Pa*

E?ports

Cr

Imports

Cr

2/// 766+ +>7++8 +>,>58 >5+

8,++5 757,

2//1 7667 +>588> +8+6+5 +5

85 >688>

2//2 766> +,>+,85 +878>8>5+ >++

55> 7+6,

2//3 766 +,,,>, +56,5,5 >

+>+8,7 75

2//4 766, ++855 76>858, 8

7>++8 7

2// 766 +5+6+57 777>7575 85

>6,+ 558

2//0 766 7+76877 7>8>8757 ,87

+688 +7>

2// 7668 7>,78,, 7,5,65,+58 ,,

87> ++,87

2// 7665 7778 785>8>85 55

,>76 +8>5

2// 76+6 7,57,6 7+55688 6>

+6> +>67

2/1/ 76++ 7577+86> 78,,8+67 7,8

57,,++ +,+>5,

2/11 76+7 >+>,7> 78>>7 >7

8> +>5,

2/12 76+> >>++8+, 78878>8,68 >8

++7>>+, 75>

2/13 76+ >,6>> 75785>5 >

+>8>7,> 76,

2/14 76+, >86,585 >68,,++ +

++>,78 >66

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Relation of #%ports (ith the Per capita ',Ps of India and Pakistan)55"R& 6TPT  

Regression )tatistics  

5*ltiple R 65>57

R )8*are 6575+,7

"d9*sted R )8*are 65+7+

)tandard #rror +7+567

6:ser;ations +

"N6<"  

"0 SS 9S : S$#/ca#ce :

Regression 7 7+,E68 +6E68 7+>+,> ,E-6

Resid*al ++ +>+6 +8

Total +> 7>+E68

Coe4ce#ts Sta#"ar" Error t Stat P-!a&'e Lo%er 5, Upper 5, Lo%er 5,6 Upper 5,6Intercept -++68 >8>> ->+>77 6665,>5 -+55568 ->56 -+55568 ->56',P India 667,66 66+78 +,>68 6+,7,7 -66+68 6668+7 -66+68 6668+7',P Pak  668,6 66>6++ ++6, 6+>,, -66+8 6++5> -66+8 6++5>

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Relation of #%ports (ith the ',P gro(th rate of India and Pakistan)55"R& 6TPT  

Regression )tatistics  

5*ltiple R 6>687+

R )8*are 66555>

"d9*sted R

)8*are -665,,

)tandard #rror >,5>6

6:ser;ations +

"N6<"  

"0 SS 9S : S$#/ca#ce :

Regression 7 7+5+,555 +656555 6,>67 6,,+

Resid*al ++ 7656>5+, +566>,,5

Total +> 7>6586,

Coe4ce#ts Sta#"ar" Error t Stat P-!a&'e Lo%er 5, Upper 5, Lo%er 5,6 Upper 5,6Intercept ,,8++68 5885 +786+8 67>>+7 -7,6, +,+57> -7,6, +,+57India >,>6 ,85>7,7, 6775 6>>85 -8,5,+, +>75 -8,5,+, +>7,Pak  -,>6+ ,77668>> -65588 6>75 -+86786 +66, -+86786 +66

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REGRESSION ANAL;SIS RELATION BET.EENGDP GRO.T= RATE AND I9PORTS

Calendar &ear

PPP ',P Per Capita

Rs. ',P 'ro(th Trade

I#"a Pa*I#"a Pa*

E?ports

Cr

Imports

Cr

2/// 766+ +>7++8 +>,>58 >5+

8,++5 757,

2//1 7667 +>588> +8+6+5 +5

85 >688>

2//2 766> +,>+,85 +878>8>5+ >++

55> 7+6,

2//3 766 +,,,>, +56,5,5 >

+>+8,7 75

2//4 766, ++855 76>858, 8

7>++8 7

2// 766 +5+6+57 777>7575 85

>6,+ 558

2//0 766 7+76877 7>8>8757 ,87

+688 +7>

2// 7668 7>,78,, 7,5,65,+58 ,,

87> ++,87

2// 7665 7778 785>8>85 55

,>76 +8>5

2// 76+6 7,57,6 7+55688 6>

+6> +>67

2/1/ 76++ 7577+86> 78,,8+67 7,8

57,,++ +,+>5,

2/11 76+7 >+>,7> 78>>7 >7

8> +>5,

2/12 76+> >>++8+, 78878>8,68 >8

++7>>+, 75>

2/13 76+ >,6>> 75785>5 >

+>8>7,> 76,

2/14 76+, >86,585 >68,,++ +

++>,78 >66

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Relation of Imports (ith the Per capita ',Ps of India and Pakistan)55"R& 6TPT  

Regression )tatistics  

5*ltiple R 65,>7

R )8*are 65685

"d9*sted R )8*are 68576,

)tandard #rror >+,,>6,

6:ser;ations +

"N6<"  

"0 SS 9S : S$#/ca#ce :

Regression 7 +685+55 ,866 ,76 +57E-6

Resid*al ++ +65,+,, 55,,5,7

Total +> ++557>,

Coe4ce#ts Sta#"ar" Error t Stat P-!a&'e Lo%er 5, Upper 5, Lo%er 5,6 Upper 5,6Intercept -+555, 55, -767+ 66>> -+>>8+ +>58 -+>>8+ +>58',P India 66688,, 666765 7+6+>> 66,5+, -6666+ 66+8++8 -6666+ 66+8++8',P Pak  6665+ 6665+ 6>65, 6,++77 -66+77> 667767 -66+77> 667767

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Relation of Imports (ith the ',P gro(th rate of India and Pakistan)55"R& 6TPT  

Regression )tatistics  

5*ltiple R 6+,67

R )8*are 667>7

"d9*sted R

)8*are -6+,>8

)tandard #rror +6>+>

6:ser;ations +

"N6<"  

"0 SS 9S : S$#/ca#ce :

Regression 7 78,+776> +77,+6 6+>>,, 6875+

Resid*al ++ ++68+, +6>57,

Total +> ++557>,>5

Coe4ce#ts Sta#"ar" Error t Stat P-!a&'e Lo%er 5, Upper 5, Lo%er 5,6 Upper 5,6Intercept ++>56+ +6,87865 +76+8> 6+>>8+ -+>5 67+565 -+>5,, 67+5India -,>> +>55,8 -66>8>7+7 656++8 ->+7>+, >6+7,,, ->+7>+8 >6+7,Pak  -,> +>,+55 -68,, 6>>5 ->>8+ 7>778 ->>8+6> 7>778

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:ORECASTED GDP AND GRO.T= :IGURES

Calendar &ear

PPP ',P Per Capita Rs.

',P 'ro(th

I#"a Pa*

I#"a Pa*

2/1 76+ 6778 >+68+

>

2/10 76+ >885 >>+6+87

2/1 76+8 ,687+ >>8>6

,, 87

2/1 76+5 ,+,65,+ >,>>,8

, ,

2/1 7676 ,,56>> >8>,

,

2/2/ 767+ 6785,8 6++658

, ,

httpFFstatstcstmescom

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:ORECASTED EPORT AND I9PORT

:IGURES :OR SI ;EARS 76+,-7676=6R#C")T#, TR",# ,"T"

Bass GDP o0 I#"a Bass GDP o0 Pa*sta# Bass GDP Gro%th- I#"aBass GDP Gro%th-

Pa*sta#

 &ear

E?portsCr

ImportsCr

E?portsCr

ImportsCr

E?portsCr

ImportsCr

E?portsCr

ImportsCr

2/1

0 +,68 >7+78 +78+5 786,, 7>+8 +>787 677, +>+7

2/1

+67> >,7,+ +6785, >668 7>, +>786 ,8666 +75>>6

2/1

+567 >577 +,,68 >>5,8 7,> +>>65 ,87>+7 +78++

2/1

+55+ 75, ++,8+ >,,7 >7 +>>> ,,786 +7,>>

2/2

/ 77++5>5 5+>,5 +88, +77> >88 +>>,+ ,,786 +7,>>

2/2

1 7857> ,>++ 7675 ,+8+ >>75 +>>,, ,,786 +7,>>

httpFFstatstcstmescom

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HUALITATIVECo*ntr> 5a9or #%port Items 5a9or Import Items

India

Pear&s2 Je%e&&er(2 C&oth#$2

9ach#er(2 Vehc&es2 9eta&

Pro"'cts2 Tea2 9ate2 Iro#

Ore2 Cotto# Pro"'cts2 Petro&e'm2

Preco's Sto#es2 =a#"cra0ts2

Pharmace'tca&s2 Leather

Pro"'cts2 So0t%are

Cr'"e Petro&e'm Pro"'cts2

9ach#er(2 Pear&s2 Preco's a#"

Sem-Preco's Sto#es2 Iro#

Stee&2 Chemca& Pro"'cts2 E")&e

O&s2 Vehc&es2 :ert&ers

Pakistan

Ra% Cotto#2 Rce2 Cotto# C&oth2

Cotto# ;ar#2 S(#thetc Te?t&es2

Garme#ts2 =oser(2 Carpets

R'$s2 Leather2 Leather Pro"'cts

#c&'"#$ Leather Garme#ts :oot%ear2 Ceramc2 :sh

:sh Pro"'cts

Petro&e'm ts Pro"'cts2 No#-

E&ectrca& E@'pme#ts2 Tra#sport

E@'pme#ts2 Iro#

Stee& Pro"'cts2 E")&e O&s2

E&ectrca& Goo"s2 Chemca&s2:ert&ers2 Tea

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 TOP 76 CO99ODITIES EPORTED :RO9

INDIA TO PAK 7665 - 76+

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 TOP 76 CO99ODITIES I9PORTED B; INDIA

:RO9 PAK 7665 - 76+

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INDUSTR; .ISE I9PACT ANAL;SIS

Te%tiles and Clothing

•Co#tr)'tes &ess tha# o#e /0th to I#"as e?ports )'t a&most t%o-thr"s # Pa*sta#

• Pa*sta# e#1o(s a stro#$ comparat!e a"!a#ta$e # (ar#2 0a)rcsa#" other !a&'e-a""e" te?t&e I#"a2 there0ore2 has #c&'"e" thesetems # ts se#st!e &st to protect ts #"'str(

• C'rre#t&(2 tra"e # te?t&es a#" c&oth#$ )et%ee# I#"a a#" Pa*sta#s a&most #o#-e?ste#t

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Iron and )teel

• U#&*e Pa*sta#2 I#"a has a %e&&-esta)&she" stee& #"'str(2 a#" s a

#et e?porter o0 stee& a#" stee& pro"'cts

• a)'#"a#t ra% matera&s2 h$h&( s*&&e" tech#ca& ma#po%er2a#" compett!e &a)or

• Pa*sta#s ro#- a#" stee&-pro"'ct mports 0rom I#"a acco'#t 0or 1'st a sma&& 0racto# o0 ts tota& mports A)o't tems are

"e#t/e" as pote#ta& mports that are cheaper to mport 0romI#"a o# the )ass o0 &o%er '#t !a&'e o0 I#"a# e?ports2compare" to the mport '#t !a&'e o0 Pa*sta#s mports 0rom therest o0 the %or&"

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 "*tomo:iles

•  The a'tomo)&e #"'str( # Pa*sta# operates '#"er 0ra#chse a#"

tech#ca&- cooperato# a$reeme#ts %th &ea"#$ %or&" ma#'0act'rers• B't the se o0 the #"'str( a#" parts s'pp&ers has rema#e" m'ch )e&o%

ts pote#ta& )eca'se o0 #co#sste#t po&ces a#" a)r'pt s%#$s # a&&o%#$mports o0 0'&&( )'&t cars

• I#"a has a stro#$ e#$#eer#$ )ase2 a#" has s'ccess0'&&( create" a sa)&ecapact( 0or pro"'cto# o0 !ehc&es

• I#"a# a'to compa#es are h$h&( cost-compett!e "'e to approprate&e!e&s o0 mecha#ato# a#" &o%-cost a'tomato#2 a#" ha!e ache!e" ah$h &e!e& o0 pro"'ct!t( )( em)rac#$ Japa#ese co#cepts a#" )estpractces

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Information Technolog>

I#"a s the &ar$est ce#tre 0or )'s#ess Process a#" IT o3shoreser!ces

• IT #"'str( # Pa*sta# s # ts #0a#c(2 t s $ro%#$ at a 0astpace2 e!e# as t str'$$&es to catch 'p %th the re$o#a& a#"$&o)a& #"'str(

Pa*sta# has &a$$e" )eh#" other re$o#a& co'#tres # 's#$ ITas a cata&(st 0or eco#omc re!!a&

•  Jo#t Ve#t'res )et%ee# I#"a a#" Pa*sta# ca# promote IT

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"gric*lt*re

• I#"a# pro"'cers $et s')s"es o# 0ert&ers2 e&ectrct( a#" "ese&

• 9ore tha# ,6 perce#t o0 a$rc'&t'ra& #comes # Pa*sta# or$#ate0rom the &!estoc* sector2 %hch s '#"er #o threat 0rom I#"a#pro"'cers

Past e?pere#ce sho%s that tra"e )et%ee# the t%o co'#tres #!e$eta)&es2 &e#t&s etc acts as a prce sta)&#$ 0orce

• Attract!e Pa*sta# P'#1a) a#" the I#"a# P'#1a) the =ar(a#a-De&h )e&t

• Imports %&& a&so 0orce Pa*sta# 0armers2 0 the( are '#compett!e2

to str!e to )ecome more e4ce#t )( a"opt#$ )etter pro"'cto#2stora$e a#" preser!ato# tech#@'es a#" re"'ce post-har!est&osses

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 TRADE BARRIERS

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REASONS :OR AN; STEEP INCREASEF:ALL

IN TRADE I: AN;

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RECO99ENDATIONS

• Pa*sta# o'$ht to co#ce"e 9:N stat's to I#"a2 %h&e I#"a

o'$ht to "ecrease ts ta?es o# hortc'&t're pro"'cts2 matera&s2• Pa*sta# o'$ht to co#ce"e 9:N stat's to I#"a2 %h&e I#"a

o'$ht to "ecrease ts ta?es o# hortc'&t're pro"'cts2 matera&s2

• Rato#a&e a#" smp&0( the tech#ca& )arrers to tra"e

•  Tra"e 0ac&tato# thro'$h e?pe"to's )or"er cross#$s

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• Coor"#ato# o0 )or"er a$e#ces

• Ope##$ o0 #e% )or"er cross#$s

• H'c* c'stoms c&eara#ce

• Impro!eme#t o0 e&ectro#c "ata #tercha#$e2 te&ecomm'#cato#2a#" tra#sport &#*s

• Creato# o0 #e% shpp#$ protoco&s

• Eas#$ o0 !sa restrcto#s 0or )'s#essme# I# a""to#2 #creasera&%a(2 ar2 a#" roa" co##ecto#s )et%ee# the t%o co'#tres

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RE:ERENCES

• Kha#2 JA2 No! - Dec 76+72 QI#"a Pa*sta# Tra"e Re&ato#Q2 IOSR Jo'r#a& o0 B's#ess a#" 9a#a$eme#t IOSR-JB9 ISSN 778-8Vo&'me ,2 Iss'e2 PP 6+-+6

• ='sa#2 I Septem)er 76+>2 Q Prospects a#" Cha&&e#$es 0or I#creas#$I#"a-Pa*sta# Tra"eQ2 At&a#tc Co'#c&2 ISBN 58-+-+5-667-

•  Ta#e1a2 N2 9ehra2 92 9'*her1ee2 P2 Bma&2 S2 a#" Da(a&2 I2 Septem)er76+>2 QNorma&#$ I#"a Pa*sta# Tra"eQ2 INDIAN COUNCIL :ORRESEARC= ON INTERNATIONAL ECONO9IC RELATIONS2 .or*#$ PaperNo 7

• K'$e&ma#2 92 =atha%a(2R92 J'# + 76+>2 QPa*sta#-I#"a Tra"e

.hat Nee"s To Be Do#e .hat Does It 9atterQ2 Asa Pro$ram .oo"ro%

.&so# I#ter#ato#a& Ce#ter 0or Scho&ars2 ISBN 58-+-5>867-+>-6

• Kha#2 9S2 J'&( 76652QI#"a-Pa*sta# Tra"e A Roa"map 0or E#ha#c#$Eco#omc Re&ato#sQ2 Peterso# I#stt'te 0or I#ter#ato#a&Eco#omcs2 N'm)er PB65-+,

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RE:ERENCES

• httpFF%%%ma#&pa*sta#or$F%p-co#te#tF'p&oa"sF76+F6>FPAK-INDIA-TRADE-.ORKING-PAPER-+-/#a&-!erso#->76p"0 

• httpFF%%%"a%#comF#e%sF+76,

• httpFFcreror$Fp"0F%or*#$paper7p"0 

• httpFFthe"p&omatcomF76+,F67F#"a-pa*sta#-the-c'ro's-case-o0-the-m0#-stat'sF

• httpFF%%%cao#etor$Fattachme#tsF7,6+F'p&oa"s

• httpFF%%%osr1o'r#a&sor$Fosr-1)mFpapersFVo&,-ss'e>FA6,>6++6p"0 

• httpFF#"apa*sta#tra"eor$FResearchPaperhtm&

• httpFF%%%#"apa*sta#tra"eor$Fp"0FI#"a-Pa*sta#-S'mmar(p"0 

• httpsFF%%%%&so#ce#teror$FstesF"e0a'&tF/&esFASIA+7+7+5Pa*st#76I#"a76Tra"e76rpt:INALp"0 

• httpFFsaarcstator$F")Ftra"estatFsaarce?ports)(mo#th

• httpFFsaarcstator$F")FstatstcsFmercha#"setra"eF$ro%tho0tra"ea#"pe#etrato#

• httpsFF%%%r)or$#F

• httpFF%%%ecomFp')&cato#sF#terstta&c0mResearchID+7,

• httpFF%%%#tra#etecomFp')&cato#sFp)Fp)65-+,p"0 


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