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WTO and Pakistan: Opportunities and Policy Challenges

Author

Listed:
  • Zafar Mahmood

    (Pakistan Institute of Development Economics, Islamabad.)

Abstract

From its inception the GATT had guided international trade most successfully until the early 1970s. However, afterwards the developed countries (DCs) increasingly recurred to new forms of trade restrictions not covered by the GATT rules. Ironically, these “grey measures” were mostly against the less developed countries (LDCs). These measures constrained international trade exactly at the time when the LDCs started penetrating developed markets. One of the main objectives of the Uruguay Round (UR) accord was to restrict the surge of protectionism. The accord was the most ambitious and detailed trade accord of all the GATT rounds. It established the World Trade Organisation (WTO). Before the UR accord the discrimination in textiles, clothing and agriculture was severe because tariffs and non-tariff barriers (NTBs) were employed in such a way that the overall effect of protection accumulated. The Round had agreed upon the harmonisation and reduction of tariffs, and elimination of NTBs (in stages) and thus it is expected that the effective protection will diminish in the DCs. The new accord has ensured multilateral rules for these sectors. All members expected that protection would be eventually lower with full implementation of the accord. In order to protect the interest of different groups the WTO has now lay down nondiscriminatory trading rules for services and trade-related aspects of intellectual property rights (TRIPs), thus covering all major fields of international trade policy.

Suggested Citation

  • Zafar Mahmood, 1998. "WTO and Pakistan: Opportunities and Policy Challenges," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 37(4), pages 687-701.
    • Handle: RePEc:pid:journl:v:37:y:1998:i:4:p:687-701
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    File URL: http://www.pide.org.pk/pdf/PDR/1998/Volume4/687-701.pdf
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    References listed on IDEAS

    as
    1. Ronald W. Jones, 1993. "The New Protectionism and the Nature of World Trade," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 32(4), pages 389-408.
    2. Hoekman, Bernard, 1995. "Tentative first steps : an assessment of the Uruguay Round agreement on services," Policy Research Working Paper Series 1455, The World Bank.
    3. Rod Falvey & Geoff Reed, 1998. "Economic effects of rules of origin," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 134(2), pages 209-229, June.
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    Cited by:

    1. Muhammad Aslam Chaudhary & Amjad Naveed, 2003. "Export Earnings, Capital Instability and Economic Growth in South Asia," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 8(1), pages 65-89, Jan-June.
    2. Umer Khalid, 2003. "Opportunities and Challenges for Pakistan in an Era of Globalisation," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 8(1), pages 45-63, Jan-June.
    3. Afia Malik, 2000. "Demand for Textile and Clothing Exports of Pakistan," PIDE Research Report 2000:4, Pakistan Institute of Development Economics.

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