Commerce Minister Amin Fahim on Saturday called for early conclusion of the Doha Round, as "it will help control protectionism" by the developed world and lowering trade barriers so as to provide market access opportunities for Pakistan. Talking to DG WTO Pascal Lamy on the sidelines of World Economic Forum, he discussed the impact of the current global financial meltdown on trade of the developing countries, especially Pakistan.
He expressed concerns over the impact of financial crisis on Pakistan's exports and the lack of availability of export credit and trade finance due to which Pakistan is faced with balance of payments problem. Lamy reciprocated the ideas of the minister and said that he had instituted a monetary mechanism whereby he was constantly keeping a check on any protectionist measures.
He appreciated the role of Pakistan in trade negotiations under the Doha Round and expressed hope that Pakistan, being a friend of the system and an active supporter of trade liberalisation and the multilateral trading system, would continue to assist the WTO in early conclusion of the Doha Round.
The Commerce Minister assured Lamy of Pakistan's continued support and active participation in all the forums of trade negotiations and expressed hope that there would be an early favourable outcome of the Doha Round and that the concerns of developing countries, like Pakistan, would be fully factored into the negotiations and any outcome thereof. Ambassador to WTO, Tipu Mahabat Khan, was also present during the meeting.
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