RAWALPINDI, March 31: A three-day conference on trade liberalisation concluded here on Saturday with speakers urging the West to comply with the principles of the World Trade Organisation (WTO) and asking the regional countries to lessen the cost of production to enhance their share in international trade.

The moot tilted “International Conference on Trade Liberalisation & Safta: Opportunities, Concerns and Challenges” was organised by the department of economics of the University of Arid Agriculture (UAA), Rawalpindi, in collaboration with the Higher Education Commission (HEC) and the Global Trade Analysis Project (GTAP) initiated by the Purdue University USA.

University of Agriculture, Faisalabad, Vice-Chancellor Prof (Dr) Bashir Ahmad, speaking as chief guest, said the export share of all the Saarc member countries was insignificant in the total volume of regional export and was needed to be enhanced.

High production cost was a very big challenge for the Saarc states and the producers here should concentrate on its effective control and management, he added.

In order to compete with other countries in the region in particular and in the world in general, Pakistan has to reduce its tariff and give subsidy to agriculture and industrial sectors, Prof Ahmed maintained.

Earlier, UAA Vice-Chancellor Prof Dr Khalid Mehmood Khan said all developing countries had withdrawn the subsidies offered to the agriculture sector, whereas the developed countries were still required to do so.

This practice was discriminatory and was against the mandate of WTO, he noted.

The vice-chancellor appreciated the economics department for arranging a successful conference and praised the Higher Education Commission for providing financial assistance in this regard.