ISLAMABAD: Connecting Pakistan to global supply value chain is a major challenge that the government is working on, said federal minister for Commerce Syed Naveed Qamar on Saturday.
“Pakistan’s trade can be enhanced by connecting the trade system to the global supply chain,” he stated.
The minister led delegation from Pakistan comprising officials from Permanent Mission of Pakistan to World Trade Organization (WTO) and the ministry of Commerce, Islamabad, said a press release.
The 12th ministerial conference of WTO was held in Geneva from June 12-16, 2022. Addressing the conference, Naveed Qamar highlighted some of challenges being faced by Pakistan in the wake of 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 such as finding solutions to challenges posed by intellectual property system, lack of technology transfer to developing countries, and access to policy tools to augment production, the press release added.
On opening ceremony of the conference, the minister addressed challenges confronting the multilateral trading system and emphasised need for upholding fundamental principles enshrined in the Marrakesh Agreement such as consensus-based decision making and special and differential treatment to achieve objectives of economic growth and sustainable development, raising standards of living and generating employment.
He highlighted lack in implementation of mandates from ministerial conferences, dysfunctional dispute settlement body, a tendency to ignore the rules-based system and unilateral actions of members as some of major challenges confronting the system.
In a session on proposed reform of WTO, the Commerce minister highlighted existing imbalances in trade agreements that favored developed countries and called for restoring confidence in the organisation by restoring a developmental agenda and safeguarding foundational principles of the organisation.
He further reminded members of Pakistan’s commitment to active participation particularly in developmental work that could contribute to 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 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 importance of strengthened collaboration and cooperation among international organisation.
As a cosponsor of 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 statement said.
The agreement calls for the implementation of the UN SDG 14.6 to secure sustainable development by prohibiting harmful subsidies for fishing, it stated.
Apart from engagements at the conference, the minister also engaged in bilateral meetings with other developing countries and stressed need for enhanced bilateral cooperation in all areas, and collective participation in multilateral negotiations through effective coalition building.
