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Implementations of WTO Regulations on Pakistan's Industrial Development

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Implementations of WTO Regulations on Pakistan's Industrial Development
ANALYSIS OF PAKISTANS INDUSTRIES QS. Discuss the implementations of WTO regulations on the industrial development of Pakistan with special emphasis on the following industries:
a. Textile
b. Health
c. Automobile

ANS : Pakistan was one of the 23 founders of GATT in 1947. It actively participated in all the subsequent GATT negotiations and was involved in the Uruguay Round that resulted in the creation of the WTO. Pakistan was thus also one of the founding members of WTO that was established in 1995. There is a considerable impact of WTO on all sectors of Pakistan's economy, particularly, its industry, textile, agriculture and services. The nature of impact is predictable for some sectors, whereas, it is difficult for others in view of global developments in trade and degree of complexity involved.Pakistan agreed to join WTO in 1994, one of the benefits of which is the integration of the textile sector into General Agreement on Tariff and Trade (GATT). Looking at 2005, people mostly believe that the major impact of WTO on Pakistan would again be on the textile sector. However, WTO comprises several protocols and agreements focusing on various sectors and has different implications for different sectors and thus the impact might not just be limited to the textile sector. For example, a few subjects or agreements signed by the government mentioned below show which sectors will be the most affected:1) Improved access to foreign markets (reduction/binding of tariffs, abolition of quotas)

2) Subsidies, countervailing and anti-dumping measures

3) Agreement on Textiles and Clothing

4) Trade-related Aspects of Intellectual Property Rights (TRIPS)

5) Trade-related Investment Measures (TRIMs)

6) Agreement on Agriculture | | As far as the industrial sector is concerned, Pakistan’s main exports are textile and related products. The non-textile exports of Pakistan are negligible but have
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