Raza Khan, Chairman, Co-ordination, FPCCI, on Sunday said that refusal of World Trade Organisation (WTO) to approve trade concessions offered by European Union has made it more political and controversial.
He said that WTO could not stand up to pressure from India and some other member states which were against provision of any preferential treatment to Pakistan. US also failed to use its influence in favour of Islamabad, as promised, which is unfortunate, he said. US and WTO should not be unfair and ignorant of the needs of developing countries. Raza said that this move has not only put the credibility of the sole international trade body at stake but it will also contribute to anti-American and anti-Indian feelings in Pakistan. He said that Pakistan should no more push its case in international forums, and adopt policy of regional trade pacts.
Pakistan joined WTO in January 1995 but it has not benefited the country; rather it has inflicted harms. This institution is frequently criticised for its failure to supervise and liberalise international trade. He said that many experts dub it a threat to poor nations and call it a political tool in the hands of industrialised nations. He also criticised the top commerce officials for telling the nation that approval of trade concessions is a matter of days, which proved otherwise. They need to become more aware of the ground realities, he added.
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