ISLAMABAD: Pakistan’s economy is growing at a pace well above the international average. The boost has come at a time when the government is facing a political controversy in the wake of the Panama Paper leaks.

This was stated by World Trade Organisation (WTO) Director-General Roberto Azevedo, who is on a two-day official visit to Pakistan.

Mr Azevedo met Prime Minister Nawaz Sharif and key cabinet members to seek greater role of Islamabad in the multilateral trading system and seek support for the WTO’s programmes and initiatives.

Addressing media persons along with Commerce Minister Khurram Dastgir Khan, he said that the growth trend was an indication that the government’s efforts were being rewarded. “There are expectations that these positive trends are going to continue, which is also commendable,” he remarked.

Pakistan, he said, is endeavouring to create a business-friendly environment despite many challenges. He cited the example of energy deficiency which is being tackled; improving political stability and the fight against violence and terrorism.

The government’s efforts to tackle these challenges have put Pakistan in a position to take the next leap forward, he said, adding that the country could be a better place for investment.

“The business environment in Pakistan is improving which is essential for economic growth and my visit will air this message to the world in the most unequivocal terms,” he said.

Mr Azevedo also pointed out that developing countries could present their development proposals in the WTO and suggested the Pakistani leadership to take initiative in floating new proposals.

The WTO, he said, will help enhance Pakistan’s export capacity through its Aid for Trade initiative by adding value to products, training people and providing support to explore new markets. Pakistan will have to diversify its export basket, he added.

He said that one of the aims of his visit was to identify areas where Pakistan needed technical assistance in trade development, trade negotiations, production methods and standardisation.

Welcoming the WTO DG, Prime Minister Nawaz Sharif said that Pakistan is actively pursuing regional integration as can be gauged by the China-Pakistan Economic Corridor (CPEC), which envisages an investment of $46 billion.

Highlighting the importance of trade, the premier said that Pakistan is gearing up its trade-related laws in order to achieve full integration into the Global Supply Chain. Pakistan is ready to enhance its partnership with the WTO and is open to international competitive trade ideas, added the premier.

Mr Azevedo said that Pakistan is an ideal destination for business and investment. In exports, he said, Pakistan is working to take qualitative jumps. “It is focusing on competitiveness, diversification and lowering the costs of trade,” he added.

Agriculture is an area of high priority and agriculture subsidies by developed and developing countries are continuously discussed and debated at WTO. Export subsidies were eliminated in the recently-held 10th WTO ministerial meeting in Nairobi, he added.

Published in Dawn, May 3rd , 2016