ISLAMABAD, Jan 24: “The comprehensive economic revival programme being pursued by the government is helping Pakistan in stabilizing and improving its economy and integrating it into the international trading system resulting in enhanced investor confidence.”

The Pakistan government deserves credit for the bold steps it has taken,” said US Ambassador to the WTO in Geneva on Wednesday during Pakistan’s 2nd trade policy review.

Almost all the major trading partners of Pakistan including European Union, Japan, US, Canada, South Korea, Malaysia, and other ASEAN partners commended Pakistan’s comprehensive reorientation of its trade policy regime as part of its economic revival programme.

A large number of WTO members took active interest in the trade policy review and recognized Pakistan as a good example of a country facing acute political and economic problems but demonstrating unflinching commitment to its multilateral obligations.

The trade policy review body is an important constituent of the apex trade body which periodically reviews the trade policies of the members, to ensure that the members implement their multilateral obligations under the WTO.

The Pakistan delegation was led by Secretary Commerce, Mirza Qamar Beg, who, in his comprehensive statement outlined the salient features of the Trade Policy of Pakistan.

During the review, the European Union recognized that Pakistan’s unstinting resolve to follow the path of open and liberal regime was commendable despite enormous difficulties and significant risks as was demonstrated by the severe consequences for its economy and trade performance as a result of the war in Afghanistan.

The Canadian delegation applauded Pakistan’s vigorous pursuit of the comprehensive economic revival programme, which has begun to show visible signs of reforms necessary to accomplish the goal of sustainable development.”

The Japanese ambassador Haraguchi recognized the difficulties faced by the present government due to the crises in the region and appreciated its consistent resolve to pursue the course of liberalization in accordance with its international obligations.

In her closing remarks, the permanent representative of the US Ms Linnet Delly praised President Musharraf for choosing to place his country on the very front line of the war on terrorism despite the potential risk to Pakistan’s trade and economy. She stated that the international community owes President Musharraf and the people of Pakistan a debt of gratitude.

She said that President Musharraf has made Pakistan a better and safer place for business.—APP