Refusal to approve trade concessions makes WTO more political: Raza Khan

Raza Khan, Chairman Coordination, FPCCI on Sunday said that decision of refusal of World Trade Organisation's (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 of India and some other member states which were against provision of any preferential treatment to Pakistan. US also failed to use her 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 Khan said that this move has not only put the credibility of sole international trade body on 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 adopts policy of regional trade pacts.

Pakistan joined WTO in January 1995 but it hasn’t benefited country, rather it has inflicted harms. This institution is frequently criticised for its failure to supervise and liberalise international trade. Raza 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 top commerce officials for telling nation that approval of trade concessions is matter of days which proved otherwise. They need to become more aware of the ground realities, he demanded.