World Trade Organization stands for freer and predictable trade between countries. It aims to abolish trade distorting practices between countries such as quotas and subsidies in a phased manner. It does not however, aim at zero tariffs. WTO has GATT, GATS and TRIPs as the main agreements. Agreement on Agriculture and Agreement on Textile and Clothing come under GATT. Pakistan has been the founding member of GATT 1948 as well as WTO. This website attempts to analyze the impact of WTO on the important sectors in Pakistan i.e. Industry, Textile, Agriculture and Services.
The Government of the Punjab has been taking vigorous actions for enhancing agricultural and industrial production as well as expansion of Services Sector in the Province. The Punjab’s contribution to the national GDP is significant. The Punjab is thus a very important stakeholder in international trade. Agriculture has provided a significant boost to the Overall Economic growth in recent years in spite of negative forces including droughts and market fluctuations.
In mid 90s World Trade Organization came into being as a result of Marrakesh Agreement. The agreement is a continuation of GATT (General Agreement on Tariff and Trade) with some improvements and amendments to meet the requirement of latest trade functions. The formation of WTO is to oversee the implementation of trade liberalization agreed to in the Uruguay Round. It is a general opinion of the policy planners that international trade rules and regulations introduced through WTO have deep repercussions on the trade policies of the developing countries like Pakistan.
The impact of the WTO regime on the economy of the Province is wide spread. The multilateral trade dispensation embodied in the WTO offers both opportunities and challenges. It is imperative to maximize opportunities and contain threats. While it is the task of the private sector to convert liberalization commitments into concrete trade accomplishment, the Provincial Government has to play very important role of facilitating and encouraging the private sector as well as to act as an advocate for Industrial, Agricultural and Service Sectors located in the province.
The World Trade Organization (WTO) Cell was established in the Planning & Development (P&D) Department with the Administrative Approval of Chief Minister through a Development scheme approved in Departmental Development Sub Committee (DDSC) meeting held on 22.03.2003.
The WTO Cell was transferred from development budget to non-development budget with the approval of Project Evaluation Committee in the DDSC meeting held on 24.10.2008, in Planning & Development Department and since then the budget of WTO CELL is being allocated through S.N.E.
The WTO Cell was transferred from P&D Department to Commerce & Investment Department with the approval of the Chief Minister on 01.07.2009. Subsequently the Commerce & Investment (C&I) Department was merged in Industries, Commerce & Investment Department (I.C&I) w.e.f 01.02-2011.
