WTO: 2016 NEWS ITEMS

DIRECTOR-GENERAL


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DG Azevêdo met with Prime Minister Nawaz Sharif, Minister of Commerce Khurram Dastgir Khan, and Minister of Planning, National Reforms, and Development Ahsan Iqbal, in addition to senior representatives from other ministries and local government.  

DG Azevêdo said:

“Amid a mixed global economic environment, Pakistan has been setting out some clear steps to invigorate the economy, as well as to improve regional connectivity. Overall, these reforms can go a long way, and I think that trade, and the system of global trade rules provided by the WTO, can play an important role in supporting these efforts.

“Pakistan ratified the WTO's Trade Facilitation Agreement in October last year. This work can help to complement the reforms that Pakistan has been making to improve the economic climate and attract foreign investment, and it will help to speed up regional integration initiatives. The Agreement could cut trading costs in Pakistan by around 13%.

“In recent years, WTO members have been able to deliver further reforms to global trade rules, which will have a great impact on improving the terms of trade in Pakistan and around the world. We need to continue implementing these agreements in full, delivering on their potential benefits – and look to deliver more outcomes in the future.”

During the visit, the Director-General participated in a seminar organized by the region's Economic Cooperation Organization, and spoke at the National School of Public Policy in Lahore. The Director-General also delivered a lecture at the Lahore University of Management Science (LUMS). His speech is available here.

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