September 27, 2003	Saturday	Rajab 29, 1424

ISLAMABAD, Sept 26: Economic adviser, economic policy and prospects group of World Bank, Richard S. Newfarmer, addressing the workshop, said the failure of the Doha development agenda is likely to result in maximum bilateral and regional trade agreements, which would be less beneficial for the developing countries.

Addressing a workshop on Global Economic prospects and Trade Policies of South Asian Countries, he said the developed countries would get more benefits for having more bilateral treaties in case of the failure of the Doha Development agenda.

The impetus to bilateral and regional agreements, he said, would produce small market access for the developing countries. He further said it would also weaken the negotiating position of the developing countries with big players.

He said the developing countries have increased its share in every sectors of the developed countries but the only area he said where they were still seeking greater market access was the agriculture sector. The developed countries have highly subsidized the agriculture products.

The protection to trade in the developed countries was very high and unchanged since the Uruguay round though the developing countries have brought down the barriers, he said.

He said the Cancun ministerial conference produced tough but productive bargaining on agriculture issues in the shape of reciprocated formation of the G-22 countries, who were well organized and technically prepared to protect the interest of the developing countries.

He was of the opinion that the bilateral investment treaties have so far resulted into very little impact on the flow of investment so that he said there was less chances of growth in case of the multilateral accord on investment.

Speaking on the occasion Commerce Minister, Humayun Akhtar Khan said at Cancun the blockage in the negotiations came as a result of an impasse on the so-called Singapore issues and not as projected in the agriculture talks.

He said that multilateral trading system was favourable for developing countries like Pakistan, because, he said, the bilateral treaties would affect the trade of poor countries.

Mr Khan said the United States had so far signed around 90 bilateral and regional trade treaties, which he said would have an impact on trade of those countries that were not under any treaty with US.

He said Pakistan wanted more access for its agriculture products.