SAARC Chamber to play leading role for promoting trade: Hamid
By Asad Cheema

ISLAMABAD—SAARC Chamber of Commerce and Industry must play an important role for promoting trade activities in the region and protection of trade interests of the member states.
Minister of State for Commerce Hamid Yar Hiraj said here Thursday at a post WTO-seminar. He said "SAARC countries have a lot of potential which need to be exploited in right prospective for the benefit of South Asian region.
He said SAARC Chamber of Commerce and Industry should streamline its policies and act on the lines of other important trading groups of the world like European Union (EU), G-20, Group of Least Developed Countries (LDCs) and African Countries towards protection of trade interests of its members.
The WTO Conference has provided an opportunity to look at the activities of the developed and developing countries for safeguarding their trade interests.
It was also witnessed that how economic managers of the different countries persuaded their planned strategies to achieve their desired results in the trade sector, he added.
In Agriculture market access which was major concern for Pakistan, he said, we managed to get breakthrough and domestic subsidy on cotton is going to be abolished by the developed countries which will ensure big boost to the export of cotton.
President Pakistan Federation of Chamber of Commerce and Industry Choudhry Muhammad Saeed in his welcome address said the recent WTO Conference was hectic and nerve shaking.
He said it produced some results at the eleventh hour when developed countries agreed to certain points to avoid failure of the Conference.
US and developing countries wanted to give cut date for marke by 2010 but European Union prolonged the issue and then agreed to the year of 2013, he added.
He said the ambitions to achieve much more was the ultimate goal of Pakistani team.
We must work hard and negotiate a deal with developed countries to yield positive results ", he added.
Dr. Manzoor Ahmed, Pakistan Permanent Ambassador to WTO speaking on the occasion narrated detail story of WTO negotiations at Hong Kong.
He said WTO Conference drew mixed response and now sorting out of modalities would laid down future course of trade relations in the world trade market.
The agreement on Swiss formula was a big achievement for Pakistan, he said adding, 97% duty free and quota free market access would also benefit Pakistan. The next 3-4 months are very crucial for sorting out modalities of WTO and we are following very ambitious policy, he added.