ISLAMABAD: Federal Minister for Commerce Naveed Qamar on said that connecting Pakistan to the global supply value chain was a major challenge for the government.
Pakistan’s trade can be enhanced by connecting the trade system to the global supply chain, he said while addressing the World Trade Organization’s (WTO) 12th Ministerial Conference in Geneva.
The Minister led the delegation from Pakistan comprising officials from the Permanent Mission of Pakistan to the WTO and the Ministry of Commerce.
Addressing the conference, Naveed Qamar highlighted some of the challenges being faced by Pakistan in the wake of the balance of payments crisis and looming food security threats.
The minister underscored Pakistan’s commitment to the system and called for a focus on issues that would help us come out from the pandemic and prepare for the future, such as finding solutions to challenges posed by the intellectual property system, lack of technology transfer to developing countries, and the access to policy tools to augment production.
On the opening ceremony of the conference, the minister addressed the the challenges confronting the Multilateral Trading System and emphasized the need for upholding the fundamental principles enshrined in the Marrakesh Agreement such to achieve the objectives of economic growth and sustainable development, raising standards of living and generating employment.
READ MORE: WTO chief warns of global food crisis in wake of Ukraine conflict
The lacking implementation of mandates from Ministerial Conferences, a dysfunctional dispute settlement body, a tendency to ignore the rules-based system and unilateral actions of members were highlighted as some of the major challenges confronting the system.
In a session on the proposed WTO reforms, he Commerce Minister highlighted the existing imbalances in trade agreements that favoured developed countries and called for s developmental agenda to safeguard the foundational principles of the organization.
He further reminded of Pakistan’s commitment to active participation particularly in developmental work that could contribute to the attainment of long-term objectives of developing countries.
The outcomes of the conference also include Ministerial declarations on food security, collaboration with the World Food Programme (WFP) and a specific time-bound extension of the moratorium on customs duties on electronic transmissions, recognition of the global environmental challenges, commitment to work in the area of services trade, and the importance of strengthened collaboration and cooperation among international organisation.
READ MORE: WTO talks extended in bid to seal elusive deals
On the issue of WTO response to pandemic, he said Pakistan played a central role in leading a coalition of several members and successfully negotiated Ministerial Declaration in response to Covid-19 and preparedness for future pandemics.
As a co-sponsor of the demand for a waiver on intellectual property rights to secure safe, equitable, and affordable vaccines, Pakistan successful negotiated an outcome under the Covid-19 TRIPS decision that would help local manufacturers develop vaccines, therapeutics, and diagnostics.
The Minister for Commerce effectively led the delegation in the negotiations on an Agreement on Fisheries Subsidies.
He also engaged in bilateral meetings with various other developing countries and stressed the need for enhanced bilateral cooperation in all areas and collective participation in multilateral negotiations through effective coalition building.
Catch all the Pakistan News, Breaking News Event and Latest News Updates on The BOL News
Download The BOL News App to get the Daily News Update & Live News.
