Policy Perspectives

Pakistan and the Emerging

Trading System

Fasih Uddin

Abstract

[The present trading system as embodied in the World Trade Organization (WTO) Agreements has evolved through successive rounds of multilateral trade negotiations. The current, Doha, Round is suspended owing to deadlocks on critical issues of agriculture and market access in non-agricultural products. The three key areas of the Doha Round are phasing out of protection and support programs for agriculture; expanded market access for non-agriculture exports; and further liberalisation of trade in services. Pakistan, with its specific export potentials, liberalisation policy and active participation in trade negotiations, including groups of developing countries with similar interests, can gain much from progress in the Doha Round, provided its government, business and academic stakeholders can collaborate in identifying profitable offers and requests of commitments, and the country can strengthen and position its domestic economy to withstand new competition and win markets abroad. While it is unlikely that the Doha Round will conclude in 2007, an eventual compromised agreement is expected after which WTO will probably emerge stronger – Author]

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