RAWALPINDI, May 9: The country's agriculture and textile sectors could achieve major gains from entering the World Trade Organisation (WTO), said Commerce Minister Humayun Akhtar Khan here on Saturday night.

Speaking as chief guest at the annual reunion of the old Hailians, the minister said WTO provided opportunities and challenges at the same time. He said Pakistan would have to meet all the challenges in the best way for reaping the benefits of the free trade regime and creating consumers for its products, especially those in agricultural and textile sectors, in the international market.

He said without preparing for the social and environmental compliance issues the country would not be able to attract world consumers. We would have to prepare a plan for redressing the environmental and child labour related issues, otherwise the international community would never buy our products, he added.

Besides, he said, the country would have to produce best quality products which could compete in the free market with other nations.

The minister also observed that without stable political system the country's economy could not be stabilised. He said without a civilian setup, foreign investors would refrain from coming to the country, and "that's why President Pervez Musharraf transferred powers to the civilian government in accordance with the promise he had made with the people."

Central Board of Revenue (CBR) chairman Abdullah Yousaf appreciated the efforts of the Old Hailians Association president Abdullah Yousaf, senior vice-presidents Qaisar Javed and Khalid Majid, vice-presidents Tariq Mehmood, Ijaz Akbar and Sharif Ijaz Ghouri, secretary-general Javed Panni, secretary Mohammad Akbar and secretary information Hassan A. Rizvi and the members of the managing committee for regularly organizing the event for the last 36 years.