ISLAMABAD: Amid a rising tide of nationalism, Geneva-based International Trade Centre (ITC) Executive Director Arancha Gonzalez has come up with a proposal for a global agreement to govern e-commerce under the umbrella of the World Trade Organisation (WTO).
\nNo such global agreement exists at the moment. `It will be a good step forward,` Ms Gonzalez told Media at the conclusion of her five-day official visit to Pakistan.
\nThe ITC is a joint development agency of the United Nations and the WTO. `There are a number of areas where e-commerce will benefit from global rules,` she said.
\nThis agreement can be packaged under the so-called Doha Round, the latest round of trade negotiations among WTO members, she said. `Or you can have a separate agreement on e-commerce under the ambit of the WTO,` she added.
\nShe said the volume of e-commerce was $30 million last year in Pakistan.
\nThis is significantly low in view of the potential of e-commerce in Pakistan.
\nThe ITC executive director said Pakistan will have to implement two WTO agreements, namely the trade facilitation agreement (TFA) and the information technology agreement (ITA), to fully exploit the digital econ-omy`s potential. Pakistan ratified the TFA last year.
\nBut she said its ratification is not enough. `You still have to implement all the committed reforms under the agreement,` she said.
\nThese reforms, especially at the customs level, are important because they will improve the competitiveness of Pakistani products. `The TFA is a tool to boost competitiveness of Pakistani companies,` she said while arguing in support ofthe treaty.
\nThese reforms, she said, are related to the simplification of procedures at the border and minimising the number of windows for clearance of goods.
\nMs Gonzalez said her organisation had helped Pakistan in the initial phase of the preparation for the TFA ratification. `We helped Pakistan identify its priorities of reforms. Now we will help Islamabad implement it, she said.
\nWith regard to another WTO agreement on information technology, she said the global IT agreement will help Pakistan develop its downstream industries. Many studies have been commissioned at the WTO level, which show benefits to the countries that ratified the ITA.
\n`We have to reduce the cost of hardware for consumers`, she said, adding that Pakistan already embarked on this journey as 35m people had access to broadband due to liberalisation. Asked about the future of the DohaRound, the ITC executive director said the name doesn`t matter as long as the negotiations lead to an agreement.
\nWhat matters is that the negotiation advances rules for trade at the global level, she said. Showing optimism about the multilateral trading system, the ITC executive director said most countries will remain committed to multilateralism.
\nUnilateralism will not protect the interests of any country, she said, adding that no country adopted protectionist policies even during the financial crisis of 2008.
\nShe said the United States will remain committed to the multilateral trading system.
\nShe said the regional integration will enable Pakistan to do more trade with neighbouring China, India, Sri Lanka and Afghanistan. `It is the easiest way for small companies to trade with neighbouring countries,` she said.
\nThe China-Pal(istan Economic Corridor (CPEC) is good step towards connecting regional markets, she said.
\nThe ITC executive director said the CPEC will provide infrastructure for regional trade.
\nTo promote its exports, she said Pakistan will have to amend policies to improve the competitiveness of small and medium enterprises (SMEs). `You need to reduce the cost of trade… that is why the TFA is important for SMEs, she said.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD: Amid a rising tide of nationalism, Geneva-based International Trade Centre (ITC) Executive Director Arancha Gonzalez has come up with a proposal for a global agreement to govern e-commerce under the umbrella of the World Trade Organisation (WTO). No such global agreement exists at the moment. `It will be a good step forward,` Ms Gonzalez […]<\/p>\n","protected":false},"author":1,"featured_media":11626,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-11614","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n