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Pakistan to chair WTO committee keen on developing conutries’ interests

ISLAMABAD: The adviser to Prime Minister Imran Khan on Commerce, Abdul Razak Dawood, announced Friday that the country has been elected to Chair the World Trade Organization (WTO) 2021 committee on trade and development (CTD), ARY News reported.

In a tweet earlier today, the commerce advisor said the Ministry of Commerce is happy to share that Pakistan has been elected to chair the CTD this year.

He expanded that the CTD was “established in 1965 in GATT (now WTO) for the economic development of Developing Countries”

Its inception came, in particular, to deal especially with issues related to the “Enabling Clause” to provide non-reciprocal trading preferences to developing countries, keeping in mind the Generalized System of Preferences, or GSP.

“Under Pakistan’s leadership, the CTD would strive to work for the expansion of trade & investment opportunities for Developing Countries,” he said.

READ: Pakistan greenlights importing 300,000 MT wheat

Separately earlier today, the trading corporation of Pakistan (TCP) has sanctioned Thursday the import of a further 300,000 metric tons of wheat to the country for which it has received seven bids on the tenders it released.

It said out of seven offers made for the import, the lowest most was US$332.44 per metric ton against which the deal has been made.

The trading regulator is importing wheat on the federal government’s directives in order to circumvent wheat shortage in the domestic markets that the country experienced last year with the wheat production falling short of demand.

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