WTO representatives in Pakistan to review trade policy

KARACHI: The World Trade Organisation (WTO) has sent its team of trade policy experts to Pakistan to inform, advice, and educate the government and the private sector stakeholders in the field of trade, said SM Muneer, Chief Executive Trade Development Authority of Pakistan (TDAP) at a seminar on Thursday.
TDAP assisted WTO Geneva, Ministry of Commerce (WTO Wing) to organise “Trade Policy Follow up Review Seminar” at a local hotel, where Arne Klau, counsellor, WTO Secretariat, Geneva and Khilji Usman Ali, Trade Policy Analyst, WTO Secretariat, Geneva were the key speakers.
TDAP chief executive said they were required to know the details of the trade related initiatives of the world body, which were likely to shape and determine the future course of world trade. The objectives of the seminar were to explain the broad details of the trade policy presentation given by the government of Pakistan to WTO, with a view to bring the trade stakeholders on board – both about the current status of the trade policy position of the government of Pakistan, and about the broad outline of the policy priorities of the WTO.
Arne Klau of WTO provided an overview of the Trade Policy Review (TPR) at the WTO, which is undertaken every six years for each WTO member country.
He provided details about the TPR’s objectives, its basic parameters, process, mechanism for dissemination and use of results, and the benefits of the whole exercise.
He provided information on the latest trade policy review for Pakistan completed by the WTO in 2015 during which the main features of Pakistan tariff regime were highlighted along with relevant economic issues and its comparison with the regional countries.
In his presentation Usman Khilji of WTO provided an overview of the economic issues related to Pakistan’s trade policy regime. He pointed out that recovery of taxes and power supply issues were among the major problems being faced by the country. He also mentioned the decline in Pakistan’s trade as a proportion of GDP from over 35 percent in 2007-08 to around 31 percent in 2013-14 and concentration of exports in textile, clothing and agriculture sectors.
Khilji provided a detailed overview on the Trade Facilitation Agreement (TFA) under enactment at the WTO.
The TFA is expected to become operational by the end of 2015 upon its rectification by 2/3 rd of the WTO members.
It is expected to bring in substantial savings in time and cost for international trading transactions by expediting movement, release and clearance of goods, and improved cooperation between customs and other authorities of various countries. Dr Usman Narejo, DG (TDAP) thanked the speakers and the audience.