5th Trade Policy Review of Pakistan

Engineering Post Report

The Trade Policy Review (TPR)  is a mandatory  exercise which is undertaken by the Trade Policy Review Board of the World Trade Organization (WTO) . The review is undertaken  every seven years  for Pakistan and engages surveillance  of national trade  and economic policies  from view point of multilateralism.

Pakistan being one of the founding members  of WTO  has undergone  four such reviews  in the past  and the 5th Trade Policy Review stretched  over May 2021 to April 2022.

Main objectives of TPR  are to achieve  transparency , better undertstanding  of the reviewed Member’s trade policies and  practices  and contributing  to improved  adherence  by all Members to rules, disciplines and  commitments made under the Multilateral Trade Agreements.  The review culminates into two reports: “Government Report” and “Secretariat Report”  which are circulated  amongst WTO Members and hence have an international audience.

Federal Ministry of Commerce served as the focal Ministry for  entire process and liaised with all public sector  stakeholders  to respond to all all queries  of the TPRB and to compile such reports as are effective  to represent the progressive nature of Pakistan’s  economic and investment  potentials.  Scope of the “Secretariat Report” is extensive  as it relays  detailed analytical  information  regarding  economic  environment, trade regime, investment regime, trade policies  and practices. “Government Report”  comprises of a precise and forward looking statement  from the government focusing on future  economic policy aims of the country. After extensive data gathering , analysis   and inter-ministerial consultations both the reports were duly shared with WTO Secretariat and were also circulated  to all theWTO members.

According to the information now available  from the official sources concerned in Islamabad,  the Reports  discussed at concluding  meetings of TPRB where all WTO Members  duly noted Pakistan’s  resilience and effective policies in tackling  shocks of COVID-19 and subsequent  recovery.

Pakistan was accordingly commended  largely  for quick implementation of the Trade Facilitation Agreement (TFA) . The Members unanimously appreciated Pakistan’s  active engagement  at the WTO  upholding the values and  fundamental principles  of the WTO and support  for developing countries and Pakistan was invited to join other international agreements on various trade pertinent matters for further integration into multilateralism.