SIALKOT, March 16: In order to provide feedback on the upcoming trade policy through a consultative process, the commerce ministry and UNDP-TIHP (Trade Initiative from a Human Development Prospective) jointly organized a seminar here on Thursday at Sialkot Chamber of Commerce and Industry.

The seminar entitled ‘Reflecting human development in trade initiatives’ was presided over by EPB Lahore Director Sarfraz Ahmed and attended by ILO’s Abdul Mateen, Central Depository Company’s Abdul Shakoor Mirza and people representing trade, academia, media and civil society.

Speaking on the occasion, UNDP-TIHP Project Director Zubair Faisal Abbasi said traditionally developments in trade were measured by increase in trade-to-GDP ratio and quantum of liberalisation in tariff and non-tariff regimes. He was of the view that human development which included poverty eradication, equity in distribution of wealth and opportunities, sustainable employment and environmental concerns, should be the framework in which trade must be analysed.

During his presentation, Mr Abbasi cited examples of Mexico and Vietnam. According to him, Vietnam got success in reaping benefits of openness in global trade because it emphasised on human development.

He said Mexico experienced problems in distributing financial benefits among its population despite trade liberalisation and rapid decrease in trade barriers and faced economic decline in certain indicators.

He said at present international trade practices favoured the developed countries. He said multilateral trading system should be re-oriented so that human development in poor countries could be improved.

CBR ex-chief Ahadullah Akmal said issues of trade policy like economic progress needed a consistent human development angle so that Pakistan could meet Millennium Development Goals (MDGs).

Speaking on the importance of Free Trade Agreements (FTAs), he said the country needed a well thought-out strategy for signing of FTAs with other countries to ensure a real market access for exports.

Mr Akmal stressed the need for strengthening the regulatory framework in Pakistan to bring about equity in distribution of wealth and opportunities.

In the end, UNDP-TIHP Director Zubair Faisal Abbasi told the press that more seminars on the subject would be held in Multan, Lahore, Peshawar, Karachi and Hyderabad.