Khurram urges WTO to ensure speedy implementation of pending decisions

Lahore: Commerce Minister Khurram Dastgir Khan had  urged member countries of the World Trade Organization (WTO) to ensure speedy implementation of pending decisions to promote multilateral trade regime.

“It is important for credibility of multilateral trade system that  we focus on implementation and the real challenge is implementation of pending decisions”, he said while speaking at a WTO mini-ministerial  meeting held on the other day on the sidelines of the World Economic  Forum in Davos, Switzerland.

The meeting was hosted by the Swiss government and it set the  future agenda for the WTO, according to a statement received here on Thursday.

Only 25 out of the 164 WTO members were invited to the selected gathering and Pakistan was the only participant from South Asia as India, though invited, was not present.

Other participants included: USA, EU, Argentina, Canada, Turkey,  Brazil, Thailand, South Africa, Russia, Norway, Australia, Mexico, South Korea, China, Japan, Hong Kong, Kenya, Indonesia and Costa Rica.

Pakistan was invited for the first time since 2007.  “We have pending agenda of Bali ministerial, particularly Trade Facilitation Agreement (TFA), and now we have to ensure speedy and immaculate implementation of Nairobi ministerial decisions,” the  Minister said.

The minister informed the meeting that market access and removal  of trade-distorting domestic support in agriculture was pending agenda.

He urged all members to positively engage with these challenges in  spirit of Nairobi ministerial decisions. Small- and medium-sized enterprises (SMEs) form the backbone of  Pakistan’s economy, and there was a need to integrate them in the global market, he said, and requested WTO members to mainstream this important area.

The minister mentioned five areas where WTO needs to work, including  focus on regular work to ensure implementation, negotiations for market access and development-oriented outcomes, and making dispute settlement mechanism more efficient.

The minister said trade policy review mechanism was an opportunity  to look at inequality within the countries and world over. A joint 2015 report of WTO and World Bank gave insights to some of the challenges  faced by poor developing countries.

The coherence mandate of the WTO for global economic policymaking  also required adequate attention and more joint publications should be encouraged in collaboration with other UN institutions on all dimensions  of economic development.

Dastgir said trade was the most effective tool of development,  progress and social change. Multilateralism was the best way to address inequality and global challenges in world of trade.

“We need a robust post-Nairobi dialogue keeping in view all  perspectives on development, growth and trade,” the Minister said.

“I would encourage all Geneva-based delegates to remain engaged  on the basis of the progress achieved in Nairobi,” e Minister added.

The WTO was the only institution which provided countries the  opportunity to work on agriculture subsidies, production and trade distortion. “We cannot afford any failure to address these distortions,”  the Minister added.

“We must continue our journey of reforms, particularly in  agriculture trade. If we fail here in addressing agriculture reforms or decide to go backwards, we will not be serving the poor or the hungry. We will end up undermining the basic principles of development that we want  to uphold; We are in the day and age of a fourth Industrial Revolution.  Our solutions should be in line with the spirit of the times.”