ISLAMABAD, May 30: Pakistan will have to improve its negotiating skills to accrue maximum benefits from the ongoing negotiations under the World Trade Organisation (WTO).

This was the crux of discussion at a seminar “Challenges and opportunities of the WTO regime for different sectors of the economy.” The seminar was organised by WTO Cell, Planning and Development Department of Punjab government, in collaboration with the Rawalpindi Chamber of Commerce and Industry on Wednesday.

Speaking on the occasion, adviser on WTO and Chairman Economic and Social Policy Planning Cell, Punjab, Inaamul Haq said WTO had to stay but the developing countries including Pakistan should get maximum benefits from the multilateral trading regime.

He said all countries had only one option for survival under the system to reduce negative fallout occurred as a result of the ongoing negotiations on various agreements. He said WTO also provided opportunities for increase in trade in the market of the rich countries.

Mr Haq outlined a range of measures for achieving maximum benefits from the WTO negotiations to improve skills of workers, reduce cost of business and create awareness among the stakeholders regarding various agreements of the trading regime.

Additional Secretary Commerce Ministry Nasim Qureshi said WTO had both pros and cons but it depended on the member country how it took maximum benefits from the negotiations.

He said Pakistan was playing an active role in the current WTO negotiations. He said the government had taken many steps for improving productivity and increasing export base of the country.

He elaborated the coming into being of the WTO regime and its impact on the world trading system.

Chief WTO Planning and Developing Cell of Punjab Mohammad Ijaz Hussain said compliance with the technical barriers to trade would increase the cost of production of industries.