Trade Initiative Human Development Perspective (TIHP) National Project Director Zubair Faisal Abbasi has said that traditionally development in trade was measured by increase in trade to GDP ratio and amount of liberalisation in tariff and non-tariff regime.
Addressing a Trade Policy, 2006-07 consultative seminar on 'Reflecting Human Development in Trade Initiatives' jointly arranged by the commerce ministry and the UNDP here on Thursday held at the Sialkot Chamber of Commerce and Industry (SCCI), he was of the opinion that trade should be analysed with human development perspective.
The human development, which included poverty eradication, equity in distribution of wealth and opportunities, sustainable employment and environmental concerns should be the framework in which trade must be analysed, he said.
Faisal Abbasi also said that at present, the international trade practice favoured the rich developed countries. He argued that the multilateral trading system should be re-oriented so that the human development in poor countries is improved and the poor and the marginalized were included in benefits of increasing globalisation and market integration.
Speaking on the occasion former CBR chairman Ahadullah Akmal highlighted salient features of the Trade Policy, 2005-06, saying that the trade incentives announced by the commerce ministry for national and international trade. The issues of trade policy like economic development need a consistent human development angle so that Pakistan could meet Millennium Development Goals (MDGs), he added.
He said that right environment could be the main enabling factor for export diversification both in terms of commodity and direction.
About the importance of free trade agreements (FTAs), he said that Pakistan needed a strategy and policy for signing FTAs with other countries so that real market access for Pakistani export was ensured.
Ahadullah Akmal emphasised the need for strengthening regulatory framework in the country to bring equity in distribution of wealth and opportunities.
In order to eliminate poverty, national governments and the international community should strive to bring social and economic justice for equitable distribution of resources and this effort must be coupled with human resources and skill development, he added.
Expressing their views, the participants underscored the need for creating suitable and supporting environment for growth of exports from Pakistan in the era of globalisation and integration of trade. The export led growth could help Pakistan in generating potential for employment and wealth generation, he said.
The participants also stressed the need for reducing the cost of business in Pakistan for making exports competitive in international market.
The areas, which need focus, were identified as utilities, real estate prices, transportation and other hidden costs.
Zubair Faisal Abbasi said that similar seminars would be held in Multan, Lahore, Peshawar, Karachi and Hyderabad during March and April this year.