A Review of the Trade Policy and its Role in Economy of Pakistan
Keywords:
Trade, Policy, Pakistan, Industry, Government, etcAbstract
What is a trade policy? A trade policy is a policy which determines the rules and regulations for a state’s imports and exports to other countries. Business Dictionary defines trade policy as, “Laws related to exchange of goods and services involved in international trade including taxes, subsidies, and import/export regulations.”[i] There is nobody who can live in isolation. There are so many necessities of life and to fulfill these necessities people have to interact with each other. At the international level states have to interact because they also can not live in isolation, for example Afghanistan is a land locked country to get access to sea routes it has to keep smooth and bilateral relations with Pakistan. In order to meet basic necessities of the individuals, states interact with each other. In the history, the basic motive of international relations were economic relations and imports and exports.
References
Business Dictionary, available at(www.businessdictionary.com), retrieved on 29-05-2015; 6:Ibid.
World Trade Organization, available at (www.wto.org), retrieved on 29-05-2015; 11:17pm.
Saarc ,available at (www.saarc-sec.org), retrieved on 29-05-2015; 11:25pm.
EU grants GSP Plus status to Pakistan, The Dawn,12-12-2013 available at (www.dawn.com) retrieved at 30-05-2015; 2:33 pm.
Pak-Malaysia Free Trade Agreement, Government of Pakistan Ministry of Commerce, available at (www.commerce.gov.pk), p.8, retrived on 30-05-2015; 11:14am.
Pak-China Free Trade Agreement, Trade Development Authority of Pakistan available at (www.tdap.gov.pk), retrieved on 30-05-2015; 11:33 am.
Ibid, p.3,Article 2 Objectives 1. The objectives of this Agreement are to: (a) strengthen the mutual friendship between the Parties; (b) encourage expansion and diversification of trade between the Parties; (c) eliminate barriers to trade in, and facilitate the cross-border movement of, goods between the Parties; (d) provide fair conditions of competition for trade between the Parties (e) establish a framework for further bilateral economic cooperation to expand and enhance the benefits of this Agreement. 2. The Parties shall interpret and apply the provisions of this Agreement in the light of its objectives set out in paragraph 1 and in accordance with customary rules of interpretation of public international law.
Hussain,Ejaz etal, China-Pakistan Economic Corridor, Daily Times, 4th April 2015.
Pak-Sri Lanka Free Trade Agreement, Government of Pakistan Ministry of commerce available http://www. commerce.gove.pk retrieved on 30-05-2015; 11:58am.
Ibid, at 12:06pm
Pakistan is aiming to start negotiations on a free trade agreement (FTA) with Indonesia sometime this year, to expand on the current preferential trade agreement (PTA), which began in 2013.
As a result of the PTA, which had been mooted between Pakistan and Indonesia since 2008, bilateral trade rose dramatically from around US$1.1 billion in 2013 to $2.2 billion in 2014. Pakistan’s charge d’affaires to Indonesia Syed Zahid Raza explained that his country was aiming for a 25 percent rise in trade figures by the end of 2015.
“With a free trade agreement, Indonesia will also have easier access to Central Asian trade markets, using Pakistan as a transit point, which will benefit them as well,” Syed told The Jakarta Post on Tuesday on the sidelines of the 75th Pakistan National Day celebration event at the Ritz Carlton Hotel in Kuningan, South Jakarta.
- See more at: http://www.thejakartapost.com/news/2015/03/25/pakistan-aims-fta-with-indonesia-further-boost-trade.html#sthash.WzwaDoF3.dpuf
Mahmood Tahir etal, Evaluation of Macro Economic Policies of Pakistan (1950 -2008),Journal of Political Studies available at (www.pu.edu.pk) retrieved at 30-05-2015; 04:49pm.
