THE World Trade Organisation controls trade and economic activities on an international scale. It was established in 1995 as a successor to the General Agreement on Tariff and Trade.

Since then it has strived to increase the volume of world trade by supervising tariff rates and other commercial dealings.

Pakistan joined WTO on Jan 1, 1995 in order to boost its export which by 2008 stood at about $18bn.

During 2008 Pakistan's exports remained concentrated in five categories cotton, leather, rice, synthetic textiles and sports goods. Out of these, cotton manufactures accounted for 54.70 per cent, rice 7.10 per cent and leather 6.10 per cent.

At present Pakistan's major export markets are headed by the US with 26.40 per cent, followed by the UK 5.6 per cent, Germany 4.3 per cent, Hong Kong four per cent and Dubai 1.6 per cent.

The government is trying to increase the volume of its exports by gaining access to more markets in the European Union, Asia, Africa and Latin America.

It is facing hardships in getting a breakthrough in the EU due to many restrictions under WTO rules. Pakistan's trade policy 2008-09 has a fixed export target of $22 bn.

Unfortunately, developing countries, including Pakistan, are not enjoying any preferential treatment under the WTO regime through which they might be able to increase the volume of their trade.

SOBIA KHATOON
Rawalpindi