ISLAMABAD, April 10: The rector of International Islamic University (IIU), Justice (retired) Khalilur Rehman Khan, on Saturday said the aim of the World Trade Organization (WTO) was to promote business, but its regulations were used mainly as a tool against developing countries.

He was speaking at a one-day seminar on 'WTO and its impact on developing countries' organized by the university's International Management Development Centre.

The seminar was attended by a number of chief executives, general managers, directors and accounts officers of various government and semi-government organizations.

Urging national industrialists and policymakers to get prepared for the challenges of the WTO, the IIU rector said by acquiring proper knowledge of the trade agreements and WTO rules, "we can save our interests in the world of trade not only internationally but locally as well".

The IIU, he stated, was offering postgraduate diploma and short courses on the subject. Today's seminar was part of the university's efforts to create and enhance awareness about the seriousness of challenges posed by the world trade regime, he added.

Mohammad Abbas Raza, an economist, and WTO expert Shoaib Abdullah presented their papers, covering various issues including the historical perspective of WTO and its impact on developing countries.

The reading material distributed among the participants included a compact disk containing significant information about WTO agreements.