Trade policy should be based on a two-pronged strategy ie trade for growth and trade for development for rapid economic growth and sustainable human development in country.
The consensus was developed at a seminar organised by the Lahore Chamber of Commerce and Industry (LCCI) in collaboration with Trade Initiative from Human Development Perspective, UNDP, aimed at providing feedback to the government on trade-related issues, at LCCI on Friday.
LCCI Senior Vice President Abdul Basit, Additional Secretary, Ministry of Commerce Naseem Qureshi, former Chairman CBR Ahadullah Akmal, Project Director UNDP Zubair Faisal Abbasi spoke on the occasion and threw light on various issues regarding Trade Policy.
The LCCI Senior Vice President said that there is a need to hold such seminars so that a solution to the problems faced by the business community could be evolved.
Speaking on the occasion, Zubair Faisal Abbasi, National Project Director, TIHP-UNDP, said that traditionally developments in trade are measured by increase in 'trade to GDP ratio' and amount of liberalisation in tariff and non-tariff regimes. He was of the view that trade should be analysed with human development perspective.
He said that the human development, which included poverty eradication, sustainable employment and environmental concerns, should be the framework in which trade must be analysed. Ahadullah Akmal, ex-chairman CBR spoke on salient features of the Trade Policy of Pakistan 2005-06.
He also informed the participants about the trade initiatives of the Ministry of Commerce to boost national and international trade.
Speaking on the importance of Free Trade Agreements (FTAs), he said that Pakistan needs a well thought-out strategy for signing FTAs with other countries so that real market access for Pakistani products could be ensured. He also emphasised on the need of strengthening regulatory frameworks in Pakistan.